Yatani to read Sh3.3 trillion budget two months early
Treasury and National Planning Cabinet Secretary Amb. Ukur Yatani presenting the national budget in the National Assembly on June 10, 2021. PHOTO | JEFF ANGOTE | NMG
Mr Yatani confirmed on Monday he will deliver the Budget Statement for the financial year 2022/23 on April 7, marking the last expenditure plan for President Uhuru Kenyatta.
Parliament term ends two months to the August polls, meaning the House must clear all important business before June 9.
The budget for the year beginning July has been fast-tracked to enable timely approval of the estimates of revenue and expenditure to be included in the Appropriation Bill.
Treasury Cabinet Secretary Ukur Yatani will read the Sh3.31 trillion budget for the financial year starting July two months earlier than traditional time, paving the way for lawmakers to approve expenditure before their term ends.
Mr Yatani confirmed on Monday he will deliver the Budget Statement for the financial year 2022/23 on April 7, marking the last expenditure plan for President Uhuru Kenyatta who will leave office after the August 9 polls.
Parliament term ends two months to the August polls, meaning the House must clear all important business before June 9.
The budget for the year beginning July has been fast-tracked to enable timely approval of the estimates of revenue and expenditure to be included in the Appropriation Bill.
The passage of the Appropriation Bill by MPs and subsequent signing into law by President Kenyatta is what will authorise the Executive, Parliament and the Judiciary to withdraw cash from public coffers for day-to-day running of their programmes.
Failure to pass the key legislation, under Article 221 of the Constitution, will, therefore lead to cash crisis for key government activities in the year starting July, including funds for general elections on August 9.
“This is to notify the general public that the Budget Statement for the FY 2022/23 will be delivered by the Cabinet Secretary for the National Treasury and Planning in the National Assembly on Thursday, 7th April 2022 from 3:00p.m,”
Mr Yatani said in a notice on Monday.
The ceiling for the executive’s budget has been put at Sh2.02 trillion which is 6.97 percent more than the initial Sh1.89 trillion estimate for the current financial year ending June.
Parliament’s budget has been raised 1.57 percent to Sh38.48 billion, while Judiciary’s is up 5.39 percent to Sh18.88 billion.
Expenditure for counties is projected at Sh370 billion which is unchanged from the current budget, while priority expenditures to repay debt and honour pension claims under Consolidated Fund Services has bumped up 20.03 percent to Sh864.13 billion from Sh718.32 billion.
“The budget framework has focused on the “Big Four” Agenda, Post Covid-19 Economic Recovery Strategy and the strategic policy initiatives of the Government to accelerate growth, employment creation and poverty reduction,” Mr Yatani wrote in Budget Policy Statement (BPS) 2022 which was passed by lawmakers last month.
