Ruto approves Ksh.22.9 billion from Consolidated Fund for additional spending by state

President William Ruto approved the Supplementary Appropriations (No. 2) Bill, 2023 Monday, warranting the additional spending by the National Government of Ksh.22.9 billion from the Consolidated Fund.

This results in the reduction of overall expenditure by Ksh.25.5 billion compared to the revised total National Government expenditure approved in the Supplementary Appropriations (No. 1), Act 2023.

The reduction comprises an increase in recurrent amounting to Ksh.9.5 billion and rationalisation of development spending by Ksh.35 billion.

The scaling down in spending is in line with the Government’s fiscal consolidation efforts in the light of debt servicing payments.

The Appropriations Bill, 2023 authorises the withdrawal of money from the Consolidated Fund for the expenditure of the National Government.

It is the first Appropriations Bill under the Kenya Kwanza Government and, therefore, seeks to align its Manifesto and promises through assignment of actual resources to meet various services and projects.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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