UDC gov’t slows spending by P5.5 billion

This slowdown reflects targeted cost-cutting efforts as the country navigates an unprecedented fiscal crunch.

The government has had to apply the brakes on spending due to revenues being on free fall, with the mainstay of the country’s economy, diamonds selling at a snail's pace. The Umbrella for Democratic Change (UDC) government, which assumed power last year in November, has announced that it has spent P5 billion less than what its predecessor government had spent in an eight-month comparison between November and June this year. . Responding to a question in Parliament, Minister of Finance, Ndaba Gaolathe, said that the country's fiscus was still dwindling, with expenditure still outpacing revenues.