The Magpies spent more than £90m in the winter transfer window to improve their squad and enhance their chances of staying in the Premier League.
Newcastle’s form has improved over the last few weeks and the club are now in line to avoid being relegated to the Championship this season.
The club were expected to have massive plans for the summer and were expected to splurge more than they splashed out in the winter window.
However, Newcastle are set to take a more cautious approach and the summer budget is set to be significantly less than they spent in January.
Howe will have funds to improve his squad but the transfer budget for the next window is likely to be around £60m.
Following initial conversations within Newcastle around the summer window, it has emerged that the club are not planning a lavish transfer window.
They want to be more pragmatic in order to have more legroom to manoeuvre in terms of financial fair play regulations.
Working with a smaller summer budget will also allow the Magpies to have room to again make signings in the January transfer window.