Kenya's President Ruto vows to cut government spending and borrowing.
todaySeptember 30, 2022
Kenya's new President William Ruto has instructed the finance ministry to cut 300 billion shillings two point five billion US dollar from annual government spending this year, to bring the country back to sanity. Ruto also said he aimed to bring the recurrent expenditure down further next year by an undisclosed amount, in a bid to achieve a recurrent budget surplus by the third year.
Recurrent expenditure usually includes civil servant salaries, domestic and foreign interest payments, pensions and fuel costs for the government fleet of vehicles.