Date for 2019/20 budget reading announced

Money matters

Cabinet Secretary Henry Rotich

Treasury Cabinet Secretary Henry Rotich will deliver the annual budget reading at Parliament on June 13, a notice published by the ministry confirmed.

The notice published in the local dailies on Tuesday added that the reading will begin at 3 p. m.

The reading follows months of poring over proposals submitted by institutions, the private sector, non-governmental organizations and individuals.

"The proposals submitted should be on measures that will support the realization of the 'Big Four' priorities in addition to enhancing macroeconomic stability.

"The proposals should therefore target to support manufacturing sector through value addition, enhance food security and nutrition to Kenyans as well as provide Universal Health Coverage and affordable housing to all Kenyans.

"Further, the proposals may include measures on regulatory reforms, revenue administration reforms and any other measures that may spur economic growth," a past announcement by Planning PS Kamau Thugge read.

Controversial elements of 2019/20 budget

One of the controversial proposals forwarded by the ODM party is an allocation of funds to an unconfirmed referendum.

"A referendum cannot take place if there is no proper budgeting for it. A referendum requires a huge budget which has to be planned for," Siaya Senator James Orengo stated.

The 2019/20 budget is estimated at Sh2.7 trillion with education and public administration poised to be the biggest beneficiaries.

"To finance the fiscal deficit in the fiscal year 2019/20, domestic borrowing is projected at Sh271.4 billion, foreign financing at Sh306.5 billion and other domestic financing at Sh5.7 billion.

"Revenue performance will be underpinned by ongoing reforms in tax policy and revenue administration," a past statement on the draft budget outlined.

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