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Treasury to Issue 2022 Budget Statement Presentation on April 7

CS Ukur Yatani [Photo/Courtesy]

The National Treasury has announced that it will make it’s 2022 budget statement presentation on April 7.

This will be the last statement issued by Treasury Cabinet Secretary Ukur Yatani under the current administration.
The final budget policy statement is likely to include highlights of the expenditure plan as well as new revenue mobilization methods and tax measures that will serve as the foundation for the Finance Bill for 2022.

The public has been invited to contribute and share their ideas on policy and tax measures to be applied in the 2022-2023 fiscal plan.

For the fiscal year starting in July, Net spending is expected to be Sh3.3 trillion, excluding debt resumptions.

The national government will be allocated Sh1.628 trillion, while counties will receive Sh370 billion as part of their equitable share of income Sh7.1 billion for the Equalization Fund, and Sh57 billion as conditional grants.

Read Also: #BudgetKE2021 : Highlights of the 2021/2022 Budget Allocations

The budget is scheduled to be funded by revenues of Ksh.2.820 trillion, with estimated revenues of Ksh.2.516 trillion.

The balance will be borrowed from both domestic and international sources.

Despite this, Parliament has sought to limit the budget deficit to Ksh.400 billion or 3% of GDP.

The approved Budget Policy Statement (BPS) for 2022 is projected to serve as the foundation for the Appropriations Bill for 2022-2023.

Read: CS Ukur Yattani’s Wife’s Appointment as the Chairperson for JKUAT Council Revoked

Treasury Principal Secretary Julius Muia confirmed the date, saying the proposals from the public should also be submitted by March 22.

The proposals should touch on measures for economic resilience, how to improve livelihoods and suggestions on how to fast-track the government’s priority pillars.

The treasury is also seeking contribution on ways of accelerating economic recovery, creating a business friendly environment and how to enhance revenue mobilization.

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Written by Vanessa Murrey

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