Treasury Unveils Record-breaking Ksh.4.5 Trillion Budget, Surpassing Previous Year by Ksh.1 Trillion
The National Treasury has presented parliament with a budget of Ksh.4.5 trillion, an increase of Ksh.1 trillion from the previous fiscal year’s budget of Ksh.3.324 trillion.
Out of this amount, the National Treasury has allocated Ksh.718.9 billion for development, Ksh.850 billion for consolidated fund services, and Ksh.775.1 billion for interest payments on the country’s debt.
The national government will receive the lion’s share of the budget at Ksh 2.3 trillion, while county governments will receive Ksh 385.4 billion and parliament will receive Ksh 41 billion.
The judiciary will receive Ksh.23 billion to operate the courts, while the State House will receive Ksh.7.3 billion.
Regarding revenue collection, the National Treasury anticipates that the tax collector will collect Ksh.2.57 trillion to fund the budget, with the treasury seeking to finance the deficit through borrowing.
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Here is a breakdown of the 2023/2024 Budget Estimates
Total budget
Ksh4.5 trillion
Expenditure
Recurrent expenditure– Ksh.1.56 trillion
Development budget – Ksh.718.9 billion
Consolidated fund services- Ksh.775.1 billion
Debt repayment – Ksh.850 billion
Allocations
National government – Ksh 2.3 trillion
Counties- Ksh.385.4 billion
Parliament – Ksh.41 billion
Judiciary – Ksh.23 billion
Housing – Ksh.29 billion
Education – Ksh.304 billion
State House – Ksh.7.3 billion
Treasury Unveils Record-breaking Ksh.4.5 Trillion Budget, Surpassing Previous Year by Ksh.1 Trillion
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