Inside President Kenyatta’s final Ksh.3.3 trillion 2022/23 budget
The National Treasury and Planning Cabinet Secretary Ukur Yatani is expected to deliver President Uhuru Kenyatta’s administration’s last budget at 3 pm, April 7, 2022.
CS Yatani is expected to read the Ksh.3.3 trillion budget, the last of President Kenyatta’s tenure which will be executed to manage the country in the next year.
A total of Ksh.2.14 trillion will be shared between the National Government and the 47 county governments.
National Government will receive Ksh.1.76 trillion while counties will get Ksh.370 billion as equitable share, and Ksh.7.06 billion to the equalization fund.
Parliament and the Judiciary are set to receive a share of Ksh.38.5 billion and Ksh.18.9 billion respectively from the budget.
-The Ministry of Education will bag the biggest share of Ksh.525.9 billion.
-Energy Ministry Ksh.368.3 billion
-National Security Ksh.203 billion.
-Health Ministry Ksh.126.3 billion,
-Agriculture Ksh.63.9 billion.
-Environment protection Ksh.110.7 billion
The government expects to finance Ksh.3.3 trillion budget by collecting Ksh.2.4 trillion in taxes, an upward revision from an earlier projection of Ksh.2 trillion.
“Revenue performance will be underpinned by the on-going reforms in tax policy and revenue administration,” reads Budget Policy Statement (BPS).
The total expenditures and revenue including grants, the fiscal deficit is estimated at Ksh.846.1 billion against the earlier provision of Ksh.1 trillion.
The fiscal deficit will be financed by net external financing of Ksh.363.0 billion and net domestic borrowing of Ksh.483.1 billion.
As the country struggles to recover from COVID-19 effects, CS Yatani expects Kenya’s economy to grow by 5.8 percent in 2022.
Unlike other years, this year’s budget will be read two months before the end of the 2021/22 financial year, a situation the government has explained is being aggravated by the current situation mainly the general elections slated for August 9, 2022.
“Government is very much aware that Kenyans like previous years are eagerly waiting for the budget details until tomorrow at 3 pm the details are secret,” said the Budget Planning Committee, Administrative Secretary, Hiram Kahiru.
More than 3.1 million Kenyans are facing starvation in 23 counties, a situation that has attracted local and international humanitarian agencies to extend support.
The United Nations (UN) is leading a group of humanitarian groups to mobilize more than Ksh.16 billion to feed the hungry Kenyans.
Kenyans are hopeful the government will highlight strategies to be fast-tracked in the next year to tame challenges the country is grappling with, especially the economy.
Kenyans also expect the Government will provide solutions to cushion them against high prices of commodities, especially foodstuffs and fuel.