The National Treasury has unveiled the fifth and last Budget for President Kenyatta’s first term in office.
Cabinet Secretary Henry Rotich on Thursday presented the 2017/2018 Budget Statement to both Houses of Parliament in Nairobi.
The government said it would spend Sh2.6 trillion, the largest ever spending plan in Kenya’s history, that will be financed using taxes and borrowing.
The Jubilee administration plans to implement the mega budget using Sh1.7 trillion from taxes and Sh900 billion from loans and grants. Cabinet Secretary Henry and his team leave the National Treasury for Parliament Buildings to unveil the Budget on March 30, 2017. Here are the key highlights of the Budget Statement as presented by Mr Rotich: The government raised its revenue collection by Sh500 billion from Sh1 trillion in 2013 to 1.5 trillion in 2016.
Counties to receive a total of 329.1 billion in 2017/2018 against the Sh288 billion they got in the 2015/2016 financial year. The increase follows a spirited campaign by governors. Some 2.3 million new jobs have been created since 2013, with 815,000 jobs created in 2016. Some Sh8.1 billion allocated to Kenya Police Service.