Treasury targets March approval for 2017/18 budget

The National Treasury is pushing to have the 2017/2018 budget estimates approved by Parliament by March.

This marks a shift from the traditional budget making process that saw the National Assembly approve government expenditure in April.

Speaking to Citizen Digital from India, Treasury Cabinet Secretary Rotich said this would enable the government fast track the process as the country heads into a competitive election period.

Mr Rotich however clarified that the budget may still be read on or before June.

“The target is to have the budget estimates approved by March. Budget Statement reading can happen anytime after that even in June on a date to be agreed by all EAC partner states,” Mr Rotich said.

It was widely believed the budget would be read before the traditional date of the second Thursday of June.

East African Community partner states usually read their budgets on the same day.

Mr Rotich said focus at Treasury was on ensuring the next financial year’s budget is prepared without interference from the election cycle.