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BUDGET 2022/2023

Budget statement to be released on April 7 - CS Yatani

The budget will be read two months earlier this year

In Summary

•Yatani said he will deliver the budget statement Assembly on April 7 from 3.00pm.

•The presentation of the budget statement is expected to be the last for Treasury CS Ukur Yatani under the current administration.

Treasury CS Ukur Yatani outside Pariament Building for Budget reading on June 11, 2020.
Treasury CS Ukur Yatani outside Pariament Building for Budget reading on June 11, 2020.
Image: FREDERICK OMONDI

Treasury CS Ukur Yatani on Monday announced that the 2022/2023 financial year budget statement will be released on April 7, 2022, from 3:00 pm.

The presentation of the budget statement is expected to be the last for Yatani under the current administration.

The budget will be read two months earlier this year due to the General Election slated for August 9.

The total budget estimate for the 2021/22 financial year was Sh3 trillion.

This was a 4.8 per cent increase from the Sh2.9 trillion for the 2020/21 budget.

Last year's economy was projected to grow by 6.0 per cent compared to 2020s 3.3 per cent.

The economic growth in the sub-Saharan Africa region was projected to expand by 3.4 per cent in 2021 from a contraction of 1.9 per cent in 2020.

The 2021/22 budget theme was ‘Building Back Better: Strategy for Resilient and Sustainable Economic Recovery and Inclusive Growth.’

CS Yatani had implemented ways to help grow the economic activities and mitigate the adverse impact of the pandemic on Kenyans and their businesses.

They included the creation of over 100,000 job opportunities for the youth under the “Kazi Mtaani” initiative, recruiting 5,000 diploma and certificate level healthcare workers to support healthcare and enhancement of liquidity to businesses through payment of VAT refunds of Sh10.0 billion and clearance of pending bills of Sh13.1 billion.

The health, Defense and Education ministries were the biggest allocations in the 2021/22 financial budget.

The Defense Ministry got Sh294.5 billion, Education Ministry got Sh202.8 billion and Sh121.1 billion was allocated to the Health Ministry.

The National Treasury board allocated Sh182.5 billion to Transport and Sh60 billion to the Agriculture Ministry.

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