-1.7 C
New York
Sunday, February 5, 2023

Buy now

Kenya’s Budget 2022/23 Financial year; Key highlights 

Kenya’s Budget 2022/23 Financial year

Kenya’s budget 2022/23 financial year is Sh3.31 trillion. 

The budget is 4.8 percent more compared to the Sh2.9 trillion budget for the 2020/21 fiscal year.

The budget will be the last under President Uhuru Kenyatta’s regime.

The national government would receive the largest portion of the funds, totaling Sh2.07 trillion.

Kenya’s Budget 2022/23 allocation

Executive – Sh2.01 trillion.

Parliament will take Sh38.4 billion.

Judiciary will get Sh18.8 billion.

County governments Sh370 billion as sharable revenue.

The fuel subsidy fund will get Sh24.7 billion to help Kenyans cope with rising fuel prices.

Sh864.1 billion will go to the Consolidated Fund.

The Consolidated Fund is the fund that allows the national government and local governments to function.

The Equalization Fund will take Sh7.1 billion.

Conditional grants to counties are pegged at Sh57 billion.

The completion of significant infrastructure projects will be prioritized in the Budget, particularly under the Big Four Agenda.

In order to decongest the city, they include the completion of 4,450 kilometers of roads and the building of a 45-kilometer Rapid Bus Transit line, as well as the construction of 60 BRT stations and the acquisition of eight BRT buses.

The funds will also be used to connect at least 750,000 new consumers to the national grid, as well as post-Covid recovery and policy actions that will help the economy recover.

Supplementary Budget

Drought mitigation measures will be prioritized in this budget.

Sh2.4 billion will be allocated to the Department of Social Protection for cash payments to drought-stricken households.

The Kenya Meat Commission will get Sh1.4 billion from the Ministry of Defense for a livestock uptake program to protect pastoralists from losses.

The Department of Devolution would get Sh1.2 billion for immediate mitigation initiatives such as providing water and relief meals to hungry people.

Sh950 million would be spent on police recruitment in the run-up to the August elections.

The Independent Electoral and Boundaries Commission was given another Sh8.8 billion to ensure appropriate preparedness for the 2018 election.

A further Sh2 billion has been granted by the Ministry of Education to finish the building of CBC classrooms and enable a smooth transition from the 8-4-4 system.

The Teachers Service Commission given another Sh6.9 billion to cover teacher compensation, training, and other CBC implementation costs.

Also read,

SIM cards registration deadline; Long queues in the registration centres

The List of Top Best Insurance Companies In Kenya

Follow us

FaceBook

Telegram 

Stay Connected

0FansLike
3,693FollowersFollow
0SubscribersSubscribe

Latest Articles