This comes even as the next financial year's budget remains focused on the Big Four Agenda. The government has projected expenditure will go down to Sh2.79 trillion from the current financial year's Sh 2.84 trillion, which was later pushed up to Sh3. We need to prepare for that,” Yatani said at the opening of a three-day public hearing on the Sector Budget Proposals for 2020-21. “We are working on a strategy to retire some of those expensive and unfriendly commercial loans and substitute with concessional loans,” Yatani said. To help reduce spending by ministries, departments and agencies, Yatani said current austerity measures will be rolled-over to the 2020-21 financial year.

Source: The Star January 15, 2020 18:11 UTC