Jun 13, 2021

Mawazo Writing Africa

Writing about the main

CS Yatani’s 2021/2022 budget speech

The CS is expected to attempt to raise the hopes of a nation seeking relief from the economic shock of the Covid-19 pandemic in the face of a gaping revenue shortfall.

CS Yatani will join this afternoon Imagine a budget of Shri 3.66 trillion, an increase of 9 percent compared to Shri 3.36 trillion in the current year.

In 2021/2022 he is expected to have the “Big Four” legacy projects by President Uhuru Kenyatta as this will be the last full fiscal year of the Jubilee administration.

The executive arm of the government, led by President Uhuru Kenyatta, will receive Sh1.89 trillion, a slight 1 percent decrease from the current Sh1.92 trillion used to pay salaries and conduct government operations. US $ 666.5 billion will be used for development spending.

The economist must find money from a thin range of resources that was hit hard by the economically devastating Covid-19 pandemic.

The country’s political stability will be crucial to achieving the forecast economic growth of 6.3 percent.

But with an upcoming referendum, it will be assuming the Building Bridges Initiative (BBI) will survive the legal battle It can be difficult to guarantee political stability when the past episodes are all sorts of things.

MPs and districts win, justice gets more

The Treasury Department has given lawmakers $ 46.61 billion Dollars paid out, a generous 25 percent increase compared to the € 37.3 billion in the current year. The allocation makes Parliament one of the biggest winners in Yatani’s second budget

The judiciary, the third arm of the government, will be 17.92 billion Shillings in the new year. received, a slight increase from the current Sh 17.7 billion. The allocations come at a time when the judiciary, which employs around 5,000 people, has complained of budget cuts.

The counties will receive 370 billion Shillings, an increase of 17 percent over the current 316.5 Billion Sh. This is a big win for the decentralized government units.

Budget Holes

So how does CS Yatani plan to finance the massive Sh3.6 trillion budget?

Der Treasury chief has proposed a mix of taxes, debts, aid funds (AiA) and donor funds to raise this money. AiA consists of donor grants or loans and the revenue collected directly from government agencies through service fees and charges. These funds are referred to as AiA because they are directly collected by authorities and do not go through the National Treasury.

CS Yatani hopes to generate total revenues of Sh2.03 trillion and the remaining balance from debt. < / p> p>

Reporting by Paul Wafula