By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Newsunplug KenyaNewsunplug KenyaNewsunplug Kenya
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Reading: Ruto tweaks Uhuru budget, grows recurrent by Sh87.6bn
Share
Notification Show More
Font ResizerAa
Newsunplug KenyaNewsunplug Kenya
Font ResizerAa
  • News
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Newsunplug Kenya > Blog > Business > Ruto tweaks Uhuru budget, grows recurrent by Sh87.6bn
BusinessNews

Ruto tweaks Uhuru budget, grows recurrent by Sh87.6bn

hallanaija
Last updated: March 20, 2023 8:36 pm
hallanaija
2 years ago
Share
kenya
SHARE

President William Ruto’s administration has increased the budget for the day-to-day running of the national government by Sh87.57 billion as his administration reorganises the budget plan inherited from the Uhuru administration.

Recurrent expenditure for this financial year ending June has been revised to Sh1.27 trillion from the previous cap of Sh1.18 trillion set by the former regime, official data published on Friday by Treasury secretary Njuguna Ndung’u shows.

The revised expenditure estimates follow the approval and signing into law of the supplementary budget earlier in the month.

The increased budget on administration, operation and maintenance as well as salaries and wages comes months after Dr Ruto pledged to cut the recurrent budget as much as Sh300 billion to bring “our country to sanity” where the State does not borrow to “finance recurrent expenditure”.

His administration has, however, maintained it inherited Sh279.26 billion in non-debt payments which were either carried over from the previous financial year ended June 2022 or unbudgeted like the Sh20 billion Hustler Fund.

ruto increases recurrent budget

The carried-over obligations, the Treasury told the International Monetary Fund (IMF) in their last routine review meeting, have piled pressure on government expenditures, slowing down the implementation of the fiscal consolidation programme.

READ MORE  NASA moves a step closer to supersonic passenger flights

Non-debt payments amounting to Sh88.66 billion were deferred from last financial year, while Sh61.02 billion bills which were incurred earlier this fiscal year — including Sh26.09 billion for fuel, maize flour and fertiliser subsidies ahead of the hotly-contested August presidential poll— were not in the budget.

“Remaining pressures [Sh130 billion] are mainly related to the July and August pause in fuel price adjustments, July’s temporary introduction of a maize flour subsidy, unavoidable drought emergency interventions, and the launch of new initiatives from our administration, including plans to support agricultural production by subsidising fertiliser,” Prof Ndung’u said in the letter to the IMF, which he wrote jointly with Central Bank of Kenya Governor Patrick Njoroge.

The revised Treasury data shows the target for the Kenya Revenue Authority has been raised by Sh36.4 billion to Sh2.11 trillion amid Dr Ruto’s directive to the taxman to “collect every shilling due”.

Additional cash is expected to come from savings from capital projects whose budget, excluding grants from development partners, has been trimmed by Sh30.58 billion to Sh398.81 billion.

READ MORE  CS Kagwe orders destruction of 27,518 bags of expired fertilizer
Microplastics choke Kenya coastline despite 2017 ban
President Ruto Announces Tax Relief For Start-Up Companies
Donald Trump says there will be a ‘bloodbath’ if he loses the US election
KICC gets facelift after five decades
Ruto Mourns Former Tanzanian PM Edward Lowassa
Share This Article
Facebook Email Print
Previous Article gachagua DP Gachagua urges partners to help scale up school feeding programme
Next Article faulu bank Faulu Bank announces Ksh 1.5B credit line for farmers
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about us

We influence 20 million users and is the number one business and technology news network on the planet.

Recent Posts

  • Watchman arrested for defilement of 4-year-old girl waiting for mum at school
  • Man beaten by locals, car torched over livestock theft in Uasin Gishu
  • Saba Saba: Nanyuki family seeks justice after daughter dies in police custody
  • Kisumu: Investigations after man hacked to death in suspected love triangle
  • Governor Wanga: CoB Nyakang’o is competent but overstepping her mandate

Recent Comments

No comments to show.
Newsunplug KenyaNewsunplug Kenya
© Newsunplug Kenya. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?