Kwara State Government Executive Council has slashed the 2020 budget to N114,791,853,968, a 29.4 per cent decrease from the approved budget of N162,487,666,170.
The decision is as a result of fallout in dwindling revenue arising from COVID-19 pandemic and steep global economic slowdown.
At a virtual meeting presided over by Governor AbdulRahman AbdulRazaq, the Executive Council (EXCO) approved the presentation of the revised Appropriation Bill 2020 to the House of Assembly.
The governor forwarded the document to the House on Thursday.
The budget prioritises completion of capital projects and first line charges such as payment of salary, gratuities and pension, and social spending targeted at curbing poverty.
The new budget allocated N46.9billion to capital expenditure, down from the N89.4billion in the approved one, while N67.8billion will be spent on recurrent expenditure, down from N73billion in the Appropriation Law.
The proposal adjusted revenue to the state to N104billion, down from the N150.2billion in the approved budget.