Yatani is expected to read the budget statement in parliament after 3pm detailing how the Sh3.3 trillion budget will be executed to manage the country in the next one year.
Unlike other years, this year’s budget will be read two months before the end of the 2021/22 financial year.
A situation Government has explained is being aggravated by the current situations mainly the general elections slated for August 9, 2022.
Today at the Treasury Building, the Budget Planning Committee, Administrative secretary, Hiram Kahiru said the budget statement is ready and the CS will present it tomorrow as scheduled.
Being read at a time when the country is facing harsh economic conditions, coupled with external shocks that have so far affected the local economy, Kahiru assured that the Government is ready to offer solutions to the challenges.
“Government is very much aware that Kenyans like previous years are eagerly waiting for the budget details, until tomorrow at 3pm the details are secret,” said Mr. Kahiru.
Speaking today during the preparations for the statement delivery at Treasury building Kahiru said, “no one knows what the budget statement entails and so let us be alert to listen as the CS presents it tomorrow at the Parliament starting at 3pm.”
Kenyans are hopeful the Government will highlight strategies to be fast tracked in the next one year to tame challenges the country is grappling with, especially the economy.
The country is looking at a budget deficit of Sh846 billion in the financial year starting July, a move likely to push the current debt to slightly above Sh9 trillion.
Yatani is, however, expected to propose the tax limit be measured as a percentage of GDP as opposed to an absolute figure. The government had earlier proposed to push the borrowing limit to Sh12 trillion.
Traditionally, education, ICT and infrastructure, security and energy are likely to be allocated lion’s share of the budget.
Education will get Sh521 billion, energy, infrastructure and ICT (Sh357.7 billion), public administration and international development (Sh383.3 billion) and national security (Sh180.9 billion).
The national government will take up Sh2.04 trillion with the executive allocation projected at Sh1.98 trillion.
Allocation to counties is expected to remain at Sh370 billion.