Public hearings on Ruto’s first proposed budget to begin this week
The National Government has announced plans to hold Public Hearings on its proposed Fiscal Year 2023/24 and Medium Term Budget at the Kenyatta International Conference Centre (KICC) from January 11 to 13.
The hearings, which are in accordance with the Constitution of Kenya and the Public Finance Management Act, will be officially launched by Professor Njuguna Ndung’u, Cabinet Secretary for the National Treasury and Economic Planning, and will be attended by Honorable Ndindi Nyoro, MP and Chairman of the Budget and Appropriations Committee for the National Assembly.
According to a public notice by National Treasury Principal Secretary Chris Kiptoo, “These Public Hearings provide an opportunity for members of the public to have their voices heard and to participate in the budget making process. It is important that we consider the needs and concerns of all members of our community as we plan for the future.”
The proceedings will be streamed online via (www.treasury.go.ke) and social media platforms and members of the public are encouraged to follow along and provide their input.
“We encourage everyone to take advantage of this opportunity to have a say in the budgeting process. Your input is valuable and will help shape the direction of our country’s future,” Kiptoo added.
The 2022 Budget Review and Outlook Paper (BROP) sets Ruto’s first budget at KES 3.64 trillion, which is an increase from the earlier estimate of KES 3.55 trillion.
This puts pressure on the Kenya Revenue Authority (KRA) to effectively collect taxes.
President William Ruto’s first budget, as Kenya’s fifth Head of State, aims to create jobs for the poor and focus on economic recovery efforts. Most of the new administration’s spending, starting next July, will go towards programs targeted at economic recovery, as Kenya tries to overcome the negative effects of the Ukrainian war, Covid-19, and drought.
This is an opportunity for President Ruto, through his Treasury Cabinet Secretary, to fulfill campaign promises of lifting millions out of poverty by implementing policies that benefit those at the bottom of the pyramid.
The new government also plans to reduce wasteful spending and has already eliminated part of the fuel subsidy while retaining subsidies on fertilizers to lower food prices.
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