Nairobi, Feb. 29 -- The National Assembly's Budget and Appropriations Committee (BAC) says it has reduced the country's budget deficit by Sh183 billion, a move it says will slightly increase development spending.

BAC chairman Ndindi Nyoro said the committee has rationalised expenditure as proposed in the 2024/25 Budget Policy Statement (BPS) that will now see the budget deficit stand at Sh703 billion down from Sh886 billion in the current financial year.

Bring down

"We have managed to bring down the budget deficit. The deficit will reduce from over Sh1 trillion in the 2022/23 budget to Sh886 billion in 2023/24 and to Sh703 billion in the financial year 2024/25," said Mr Nyoro at a press conference held in Machakos County.

"This is ver...