Budget 2022/23: Ukur Yatani’s Full Speech

Budget 2022/23: Ukur Yatani's Full Speech

Treasury CS Ukur Yatani read the Budget 2022/23 on Thursday, April 7, 2022, at the National Assembly. File

Mr. Speaker, it is once again an immense privilege for me to present to this August House and to the people of the Republic of Kenya the Budget Statement that highlights the budget policies and the revenue raising measures for the Financial Year 2022/23.

The presentation of this statement is in fulfilment of the requirements of Section 40 of the Public Finance Management Act and the standing order number 241 of the National Assembly.

Mr. Speaker, our Partner States in the East African Community have agreed that Kenya can proceed with an early presentation of the Budget Statement this month. This aligns the budget calendar with the timelines for the General Elections scheduled for August 2022. Mr. Speaker, His Excellency the President Hon. Uhuru Kenyatta took office in 2013, at the time, the country had just completed implementation of the first Medium Term Plan of the Kenya Vision 2030 and was on the third year of implementation of the 2010 Constitution. During the first five years, his Administration designed and implemented an Economic Transformation Agenda under the second Medium Term Plan of Vision 2030.

The Agenda focused on five key pillars: one, improving the business climate by maintaining macroeconomic stability, addressing security challenges, and reducing the cost of doing business; two, closing the infrastructure gaps; three, promoting investment in key sectors such as manufacturing, agriculture and tourism; four, sharing prosperity by investing in pro-poor programmes in health, education and social welfare and, five, fostering the devolved system of Government to enhance service delivery.

Building on the progress made under the Economic Transformation Agenda, the Government initiated the “Big Four” Agenda anchored on the third Medium Term Plan of the Vision 2030. The Government focused on transforming the lives of Kenyans through strategic interventions on Food and nutritional security, Affordable housing , Manufacturing for job creation and Universal Health Coverage .

Mr. Speaker , while we we celebrate remarkable achievements from the past investments in the priority programs under the Economic Transformation and the "Big Four " Agenda , the country continues to grapple with various social , economic and environmental challenges.

In preparing this year’s budget , we extensively consulted Kenyans : their insightful comments and suggestions have informed the priorities laid in this Budget . Key among the concerns were :one, the high cost of […]

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