Why the 2022/2023 Budget Will Be Read Two Months Earlier

 Why the 2022/2023 Budget Will Be Read Two Months Earlier

Image: National Treasury Building in Nairobi.

The Sh.3.31 trillion budget for the financial year 2022/2023 will be read on April 7th, with the financial year starting in July, two months earlier than the traditional time, to allow time for lawmakers to approve the budget before the end of their terms. 

Treasury Cabinet Secretary confirmed in a statement released on Monday that the budget statement will be delivered on April 7th. This will also mark the last budget for outgoing president Uhuru Kenyatta who will be leaving office after the August 9th Presidential polls. 

The budget for the year that begin in July has been fast-tracked to allow approvals to be included in the Appropriation Bill on time, with the current Parliament term ending two months to the August elections, giving the house until June 9thto clear all important business. 

The notice by Treasury read in part “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”

In the budget policy statement 2022 which was passed by lawmakers in February, CS Yatani wrote that 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.

The passage of the Appropriation Bill and its signing into law by the President is what will allow Parliament, the Executive and the Judiciary to withdraw cash from public funds for the daily running of their programs.

In the budget, Parliament’s budget has been raised to 38.48 billion, the executive’s budget has been raised to Sh2.03 trillion, a 6.97 percent more than the initial Sh1.89 trillion estimate for the current financial year ending June. The judiciary’s budget has also been raised to Sh18.88 billion.

The expenditure for counties remains unchanged at Sh370 billion which is unchanged from the current budget.

In the budget policy statement 2022 which was passed by lawmakers in February, CS Yatani wrote that 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.

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