Ukur Yatani Presents Ksh3.6 Trillion 2021/2022 Budget

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LIVE BLOG: Ukur Yatani Presents Ksh3.6 Trillion 2021/2022 Budget
LIVE BLOG: Ukur Yatani Presents Ksh3.6 Trillion 2021/2022 Budget

Africa-PressKenya. Treasury CS Ukur Yatani is this Thursday afternoon, June 10, expected to read this financial years budget of Ksh3.63 trillion marking it the largest in East Africa.

This presentation comes in a year the country recorded a measly 0.6 per cent growth, the lowest in a long time. Kenya had rarely recorded growth of less than 4 per cent.

This is even as the country recorded a spike in public debt that tripled to Ksh7.3 trillion in under eight years.

The state has pending bills and various offices are demanding bigger allocation including pension payments of Ksh153 billion and office of the Auditor General that needs an increase of Ksh2.4 billion.

The executive arm of the government will receive a Ksh1.89 trillion allocation with Ksh666.6 billion goin to development. The economy is expected to grow at 6.3 per cent.

Live Updates

Below is CS Yatani’s budget presentation

15:49 p.m.

: ‚ÄúProcurement of ICT equipment and related services will be decentralized to various ministries, departments and agencies with effect from 1st July 2021,” stated Ukur Yatani.

15:36 p.m.:

Yatani reveals that 5,000 Diploma and Certificate level health workers were recruited for one year under the Universal Health Coverage in the current financial year while erate has increased by 12% to 846,000.

15:24 p.m.:

Ukur Yatani announces that the Treasury allocated additional Ksh14.3 billion across the country.

15:21 p.m.:

“During the preparation of this budget I had fruitful engagements in which I received valuable feedback. The spread of the stakeholders came from government ministries, departments, county governments, private sector and Kenyans,” stated Yatani during the Financial Year 2021 presentation in Parliament.

14:24 p.m.:

Amani National Congress (ANC) leader Musalia Mudavadi, a former Treasury Minister, noted that implementing Yatani proposals extremely taxing: The mood in the country right now is perhaps that of mixed public expectation.

14:20 p.m.:

Ukur Yatani, CS Treasury, arrives at the Parliament Buildings.

13:49 p.m.:

Yatani and his team leave Treasury Building headed to Parliament.

13:43 p.m.:

Garissa Township MP Aden Duale argues that MPs are to blame for passing the Budget and Appropriation Report hence opening up the Ksh9 trillion debt ceiling.

“This budget is not adding up. In fact, we must be concerned in terms of are we putting Kenya into a debt crisis. Looking at expenditure, looking at revenue and looking at debt perspective. The honours lies with the Parliament.

“I want to tell Kenyans that the people who are failing them, me included, is the MPs. Don’t blame the President and not National Treasury,” he stated

13:33 p.m.:

Video shows man being whisked away by police officers outside Parliament moments before Yatani was expected to make his address.

12:15 p.m.:

Speaking to Citizen TV, Yatani exuded confidence that the budget was structured to meet President Uhuru Kenyatta’s Big 4 Agenda.

“The President’s legacy is protected. He achieves what he desires to. There has been a lot of investment in terms of funding allocations from the Big Four Agenda to recovery efforts, the stimulus package and infrastructure development.

“I am confident that we are going to deliver the kind of legacy our president desires. We cannot present a budget that is not balanced. We already know where we are going to get the resources against the planned expenditure,” stated Yattani.

12:04 p.m.:

State Department of Planning confirms that the Financial Year 2021/2022 Budget Statement ‘will leave Treasury Building shortly for onward transmission by Treasury CS. Amb. Ukur Yatani in Parliament.’

11:48 a.m

.: Majority leader of the National Assembly announced that 122 Members of Parliament will be present as Treasury CS Ukur Yatani presents the KSh3.6 trillion budget today.

11:25 a.m.

: Ministry of Interior announced the closure of four roads to facilitate ease of movement during budget reading for members of Parliament and Senate as well as executives from Treasury.

The four roads are Parliament Road, Harambee Avenue, Taifa Road and City Hall Way. They will remain closed between 1:00p.m. and 5: 30p.m.

10:49 a.m

: Nambale MP Bunyasi Sakwe revealed a bill he presented before Parliament that will seek to increase the budget to ensure that it matches with the revenue. It will also seek to ensure loans matches with the projects.

“I have a bill called Public Budget Authority Bill to enforce greater scrutiny of projects before they get into the budget process,” he noted explaining that it would ensure the borrowing does not destabilize the economy.

10:30 a.m.:

Minority Leader in the National Assembly John Mbadi, while speaking to the press, indicated that this budget is facing challenges that have only been witnessed three times before.

“Budget Process starts from September. This budget, the environment in which we are operating, has only been witnessed 3 times. in 1992 after election when economy was low, in 2002 and 2008.

“This is the first time the economy has grown at 0.6%, something that has not been seen. We have not grown below 4% in a long period of time. This is because of Covid-19, flooding and locust invasion,” John Mbadi stated.

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