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