East African Finance ministers present their national budgets in their respective parliaments for the fiscal year 2021/22 today.
According to the East Africa Community (EAC) Treaty, partner states are required to read their budgets simultaneously.
But only the three founding member states – Kenya, Uganda and Tanzania – read their budgets today.
Burundi whose financial calendar begins in January and South Sudan were both given time by the EAC Council of Ministers to adjust the reading of their budgets in harmony with the rest of the partner states.
Rwanda did not give reason for delaying the budget reading.
Uganda’s $12.61 billion (Ush44.7 trillion) Budget is being presented byMr Amos Lugoloobi, the newly appointed Minister of State for Planning.
In Tanzania, the $15.59 billion (Tsh36.32 trillion) Budget will beread by the new Minister of Finance and Planning Dr Mwigulu Nchemba.
Treasury Cabinet Secretary Ukur Yatani willlay out the $33.3 billion (Ksh3.6 trillion) budget which is expected to cement the legacy of Kenya’s President Uhuru Kenyatta 10 years in office in a tough economic setting clouded with depressed corporate and household earnings amid uncertainties arising from the Covid-19 pandemic.
Here are some key highlights:
VACCINES:Kenya sets aside Ksh14.3 billion ($133 million) for the purchase of Covid-19 vaccines, while Uganda to use Ush560 billion ($159 million).