Ruto signs Appropriations Bill 2024 into law, issues directives to National Treasury
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President William Ruto on Friday, June 28 assented the Appropriations Bill 2024 into law at State House Nairobi
President William Ruto on Friday, June 28 assented the Appropriations Bill 2024 into law at State House Nairobi.
In a statement, President Ruto said the constitution requires the Appropriations Bill to be assented to by the 30th of June every year to guarantee the continuity of government operations, especially in providing critical services.
The Head of State directed the National Treasury to prepare supplementary estimates to reduce expenditure by Sh 348 billion which was expected to be generated by the Finance Bill 2024.
Ruto explained that the reduction of government expenditure by Sh 346 billion will affect both the national and county governments.
“I have therefore assented to the Appropriations Bill 2024 and instructed the National Treasury to immediately prepare supplementary estimates to reduce expenditure by the amount of revenue that was expected to be generated by the rejected Finance Bill 2024.
“The reduction in expenditure, amounting to Kshs 346 billion, will be borne equitably by both levels of government: the National and County Governments. With respect to the National Government, the reduction will be borne by the executive, the legislature, the judiciary, and our constitutional commissions,” read President Ruto’s statement in part.
In the national government, Ruto said the reductions will be borne by the executive, the legislature, the judiciary, and our constitutional commissions.
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At the same time, President Ruto referred the County Allocation and Revenue Bill back to Parliament since it is based on the expected revenues from the Finance Bill 2024.
“Consequently. I have referred the County Allocation and Revenue Bill which was based on expected revenues from the rejected Finance Bill, back to Parliament for reduction accordingly,” Ruto stated.
Further, Ruto directed the National Treasury to immediately submit to Parliament amendments to the Division of Revenue Act 2024 to reflect the reduced revenues occasioned by the rejected Finance Bill.
“I have also instructed the National Treasury to direct all accounting officers to ensure that only critical and essential services are funded, using no more than 15% of the budget, until the supplementary budget is approved,” President Ruto added.
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