Govt slashes quarter one budget
Government spending has been slashed by nearly 19% from the initially projected 7.85 trillion shillings. The affected areas are Non-wage and development expenditure, in what the ministry of finance says, is a well-targeted fiscal intervention which it hopes, will also help curb inflation. The secretary to the treasury Ramathan Goobi, while releasing the quarterly expenditure of the FY 2022/23 also said, the ministry will not accept any requests for supplementary budgets except for security or industrial development.
