NAIROBI (Reuters) – Kenya’s budget deficit is forecast to fall to 5.0 percent of gross domestic product in the 2019/20 (July-June) fiscal year from revised deficit of 6.3 pct of GDP in 2018/19, the Finance Ministry said on Friday.

The ministry said in a draft budget policy statement that the deficit was forecast to drop to 3.0 percent of GDP in 2022/23.

Reporting by George Obulutsa; Editing by Andrew Heavens