Shares
  • getufmradio
  • getufmradio

Kenya’s proposed Ksh4 trillion budget for the 2024/2025 fiscal year might experience a slight change as parliament seeks to amend it. The Chairperson of the Budget Committee in the National Assembly, Ndindi Nyoro, indicated during an interview with the media, that the appropriations bill’s adjustment could alter the current budget, which stands at Ksh4.006 trillion, by approximately Ksh14 billion.

Nyoro noted that the parliamentary budget-making process would conclude a week after the Treasury Cabinet Secretary presents it to the house, after which parliament will pass the appropriations bill and submit the final budget to President William Ruto for approval. “The budget that we will be expecting tomorrow will be a budget of Ksh4.006 trillion, but that could change marginally because of the appropriations bill,” Nyoro explained.

The Kiharu legislator highlighted that Ksh1.6 trillion is allocated for recurrent expenditure for the national government, with Ksh450 billion earmarked for development. He also pointed out that the country is grappling with substantial debts, allocating around Ksh1.08 trillion for loan repayments, which necessitates additional revenue-raising measures to address the budget deficit.

Nyoro emphasized, “Out of every Ksh100 collected by the National Treasury, only Ksh39 will be available to the government after fulfilling debt obligations.”

Nyoro’s comments followed the Treasury Principal Secretary’s explanation of the revised tax measures in the Finance Bill, which is set to be presented to parliament alongside the budget. PS Kiptoo, speaking before the Finance Committee in the National Assembly, stated that the bill aims to raise Ksh346 billion. The funds generated from these taxes are intended to partially finance the 2024/2025 budget, pending parliamentary approval.

Share This

Share this post with your friends!

Share This

Share this post with your friends!