Category: budget
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US federal budget crosses grim milestone as interest payments overtake defense spending
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It has been the United States for a long time The largest defense budget in the worldSpending this year is expected to approach $900 billion. However, this spending is quickly being outpaced by the fastest-growing portion of federal outflows: interest payments on the national debt. to The first seven months…
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Budget boss loses fight to gain access to county accounts
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The budget comptroller lost his attempt to monitor counties’ bank accounts in real time, derailing efforts to tame irregularities that have cast a shadow over how devolved units pay contractors and other bills. The matter, which pits the Office of the Comptroller of Budget against the Treasury, the Central Bank…
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Helb faces Sh3.7bn budget cut
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The Treasury has proposed cutting the Higher Education Loans Board (Helb) budget by Sh3.7 billion in the financial year starting July, which could affect thousands of loan beneficiaries. The Treasury is seeking to allocate Sh33.3 billion to HELP to fund thousands of needy students in universities and colleges in the…
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Treasury slashes budget by Sh267bn on revenue shortfall
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The Treasury has cut the 2024/25 budget by Sh267.5 billion to reflect the reality of weak revenues amid ballooning public debt. Total spending and net lending for the financial year starting July 1 is now estimated at Sh3.92 trillion, down from the previous forecast of Sh4.188 trillion. The lower budget…