CS Rotich to read budget on 8th June


Treasury CS Henry Rotich
File image of National Treasury Cabinet Secretary Henry Rotich. Photo/Profile

In an unprecedented move, the National Treasury cabinet secretary Henry Rotich will make his budget speech on a Wednesday.

The treasury has announced the 2016/17 budget will be presented on the 8th of June, breaking away from the tradition of having the budget read on the second Thursday of the month of June.

The change has been made to accommodate Uganda’s National Hero’s day celebrations on the 9th of June.

All East African partner states make their budget presentations on the same day.

At the heart of the next financial year will be the Sh2.2 trillion budget, Kenya’s largest.

In the upcoming financial year, total expenditure is projected at Sh2 billion (or 28.3 percent of GDP). Recurrent expenditures will take the lion’s share of the budget with Sh1.1 billion compared with Sh989.7 billion in the current budget.

The Kenya Revenue Authority will have its work cut out in the upcoming financial year with a target to collect Sh1.4 trillion in revenues.

From the budget policy statement released by treasury, focus will be on infrastructure projects with a high impact on poverty reduction.

Sh374 billion has been allocated to the energy, ICT and infrastructure sectors while the health sector will receive 60.8 billion shillings.

The education sector is among the big winners of the upcoming budget with Sh342.0 billion

 

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