President William Ruto has said the Government will cut the budget by Ksh 177 billion and borrow the difference of Ksh 346 billion.
He said the borrowed funds will be used to finance critical government services.
“They include hiring of Junior Secondary School intern teachers and medical interns, funding the milk stabilisation programme for our dairy farmers, reviving our stalled road projects and retaining the subsidised fertiliser programme that has helped us to manage the cost of living,” he said.
He cited other necessary expenditures as settling debt owed to coffee farmers, capitalising the Coffee Cherry Fund, paying outstanding debt to sugarcane farmers and additional higher education financing for the new funding model for universities and TVET colleges.
It will also cater for paying arrears owed to counties, the National Government Constituency Development Fund and pensions.
