Kenyan Budget 2023 highlights are finally out after a long speech by Treasury Cabinet Secretary Prof. Njuguna Ndung’u. Azimio leaders who walked out amid the address are still at a standoff.
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Financial experts say the budget was designed in line with the bottom-up economic model – the majority of Kenyans feel otherwise.
Kenyan Budget 2023 highlights
The government of William Ruto is counting on the controversial Finance Bill to fund the recently unveiled budget.
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Prof Ndungu describes it as “the perfect storm” of our time.
“It’s the first Budget that I am going to present…It is also the first Budget under the Bottom Up Economic model. The premise of that is that we are coming from a very devastating kind of economic slowdown. We call it a perfect storm if you want to replicate what the Economic Advisory Team of the President has said.”CS Prof Ndung’u.
Below is a detailed budget breakdown.
|Government sectors||Budget allocations||Percentages|
|National Government||2.23 trillion||61.9|
|i) Executive||2.16 trillion||60.1|
|ii) Parliament||40.40 billion||1.1|
|iii) Judiciary||22.99 billion||0.6|
|Consolidated Fund Services||986.16 billion||27.4|
|County Government||385.4 billion||10.7|
Ruto’s first budget is indeed the perfect storm in a nation struggling with a high cost of living.
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The fiscal deficit is projected at Sh. 718 billion from Sh. 846.9 billion.
Highlights of the Budget Speech
- Sh. 35.2 billion to the housing programme
- Sh. 7.3 billion Kenya urban programme
- Sh. 5.5 billion Kenya Mortgage Refinance Company
- Sh. 3.2 billion affordable housing units
- Sh. 3.3 billion social housing units
- Sh. 5.5 billion Kenyan informal settlement improvement project phase 2
- Sh. 5.2 billion for the construction of new markets
- Sh. 932 million for maintenance of government pools
- Sh. 1.2 billion for housing units for police and prisons
- Sh. 637 million for municipal programmes
- Sh. 150 million footbridges
- Sh. 300 million development of appropriate building technology
- Sh. 600 million for the development of Konza technopolis city.
- Sh. 4.8 billion for the horizontal infrastructure phase one
- Sh. 1.2 billion for Konza data centre and smart city facilities
- Sh. 475 million for construction of Konza complex phase one B
- Sh. 5.7 billion for the Kenya Advanced Institute of Science and Technology at Konza
- Sh. 1.3 billion for maintenance and rehabilitation of the national optic fibre
- Sh. 144.9 billion for the Kenya Defence Forces
- Sh. 98.6 billion for the National Police Service
- Sh. 44.3 billion National Intelligence Service
- Sh. 31.3 billion Kenya Prisons Service
- Sh. 141.2 billion for the health sector.
- Sh. 244.9 billion for infrastructure
- Sh. 3.9 billion to Ethics and Anti-Corruption Commission
- Sh. 3.6 billion for the Office of the Director of Public Prosecutions
- Sh. 8 billion Directorate of Criminal Investigations
- Sh. 8 billion for the Office of the Auditor General.
- Sh. 628.6 billion for the Education sector
The budget pdf is now available online.
Kenyan Budget 2023 highlights are sparking nationwide debates even as the opposition continues to mount resistance.