Treasury CS Ukur Yattani on Thursday read Kenya's budget for the 2020/2021 fiscal year at the floor of the floor of Parliament.
Top 3 biggest allocations in Yattani's Sh2.75T budget
Breakdown of Kenya's 2020/2021 budget
The top three items on the budget by monetary allocation were Recurrent Expenditure at Sh1.8 trillion, Development Expenditure at Sh584.9 billion and the Counties at Sh316.5 billion.
The expenditure will include the recent Sh53.7 billion economic stimulus package (ESP) announced by President Uhuru Kenyatta to mitigate the effects of Covid-19 on the economy.
CS Yattani has also made a historic Sh1 trillion allocation to debt servicing through consolidated fund services (CFS) which is a first in Kenya's history.
Parliament and Judiciary arms of government were allocated Sh37.8 billion and Sh18.1 respectively.
Distribution of Sh53.7 billion ESP
The agricultural sector was allocated Sh4.5 billion to go towards subsidies on inputs and support in international markets.
To mitigate the effects of Covid-19 on tourism, CS Yattani proposed a waiver of parking and landing fees at airports, relaxed rules against holding meetings at hotels for state officers and provision of soft loans for renovations. A total of Sh5 billion was allocated to the industry.
In the environment sector, Sh1 billion was allocated to flood control and Sh850 million to ASAL areas.
Manufacturing was allocated Sh600 million toward the support of locally assembled vehicles and Sh712 million to SMEs within the manufacturing industry.
Key Priorities of the 2020/2021 budget
President Kenyatta's Big Four Agenda received a Sh128.3 billion allocation that will be distributed as follows:- Housing (Sh15.4 billion), Manufacturing (Sh18.3 billion), Food Security (Sh52.8 billion) and Health (Sh111.7 billion).
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