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The ministry of finance has cut down on expenditure and limited cash for the first quarter to mitigate the current inflationary trend.
Releasing money for the First Quarter of the financial year, the finance ministry permanent secretary and secretary to the treasury Ramathan Ggoobi revealed that the funds have been cut by 19% translating into Shs 4.6 trillion approved for Quarter one.
According to the acting Director Budget Laban Mbalamuko, the government ought to have released 25% which is about Shs 12 trillion of the approved Shs 48.1 trillion national budget.
Now out of the released funds for quarter one, no money has been given for debt and capital expenditure.END.