HomeNews2024/2025 Budget Highlights: Breakdown of All Key Allocations

2024/2025 Budget Highlights: Breakdown of All Key Allocations

2024/2025 Budget Highlights: Breakdown of All Key Allocations

National Treasury Cabinet Secretary Njuguna Ndung’u presented the 2024/2025 budget statement at the National Assembly on Thursday, June 13.

During the briefing, he emphasized the government’s ambitious plan, leading to a Ksh4 trillion budget allocation for the upcoming fiscal year.

He detailed the government’s plan, proposing Ksh377 billion for National Security, including allocations for the National Police Service, Kenya Defence Forces, and the National Intelligence Service.

Additionally, the CS announced a Ksh400.1 billion equitable share for county governments, a first in 12 years.

To combat corruption, the CS proposed Ksh4.2 billion for the Ethics and Anti-Corruption Commission (EACC) and the Office of the Director of Public Prosecutions.

Furthermore, Ksh6.9 billion would be allocated to the State Law Office and Ksh8.7 billion to the Office of the Auditor General.

The government also proposed Ksh656.6 billion for the Education sector, covering Ksh30 billion for Junior Secondary School interns, Ksh36 billion for the Higher Education Loans Board (HELB), and Ksh3 billion for the school feeding program.

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To ensure food security, Ksh54 billion was proposed for the agricultural sector, with Ksh10 billion for fertilizer subsidies and Ksh6 billion for the agricultural value chain.

An allocation of Ksh23.7 billion was proposed to support tourism, sports, culture, and recreation.

For Universal healthcare, Ksh127 billion was allocated to the health sector, including Ksh2 billion for free maternity healthcare.

Additionally, Ksh36.6 billion was allocated for water and sewerage systems.

The government also proposed Ksh5 billion for the Hustlers Fund and Ksh200 million for the Youth Enterprise Development Fund.

CS Ndung’u also suggested Ksh193.4 billion for road development and Ksh25.2 billion for expanding railway transport.

Moreover, Ksh200 million was allocated for acquiring ferries for Lake Victoria and Ksh69.7 billion for the energy sub-sector.

CS Njuguna Ndung’u concluded by revealing the government’s plan to create a comprehensive tax system by expanding the tax base and reducing tax expenditure, which was 2.9% of Kenya’s GDP in 2022.

2024/2025 Budget Highlights: Breakdown of All Key Allocations

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