September 19, 2018 / 1:14 PM / a month ago

Kenya's finance minister cuts 2018/19 government spending by 1.8 pct

NAIROBI, Sept 19 (Reuters) - Kenya’s finance minister has cut the government’s spending budget by 55.1 billion shillings ($546.90 million) in the fiscal year from last June, a Treasury document showed on Wednesday.

The government is facing a tough balancing act after public outcry over a new 16 percent value added tax on all petroleum products forced President Uhuru Kenyatta to reduce it by half. Parliament will consider the reduced budget and Kenyatta’s VAT proposal during a special sitting on Thursday. ($1 = 100.7500 Kenyan shillings) (Reporting by Duncan Miriri Editing by Maggie Fick)

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