Bonds

Kenya reduces budget deficit for 2019/20 fiscal year - budget

Credit: REUTERS/BAZ RATNER

Kenya will cut its budget deficit for its 2019/20 (July-June) financial year to 5.6 percent of GDP from 7.4 percent in the fiscal year to the end of this month, the Finance Minister Henry Rotich said in his budget proposals to parliament.

NAIROBI, June 13 (Reuters) - Kenya will cut its budget deficit for its 2019/20 (July-June) financial year to 5.6 percent of GDP from 7.4 percent in the fiscal year to the end of this month, the Finance Minister Henry Rotich said in his budget proposals to parliament.

The funding gap will be filled by net local borrowing of 283.5 billion shillings ($2.79 billion) and 324 billion shillings in net external borrowing, Rotich said.

($1 = 101.4500 Kenyan shillings)

(Reporting by Duncan Miriri and John Ndiso)

((duncan.miriri@thomsonreuters.com; Tel: +254 20 4991239; Reuters Messaging: duncan.miriri.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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