Friday, May 3, 2024 - The National Treasury plans for the financial year 2024/2025 have revealed a significant reshuffle in budget allocations, with notable increases slated for the Office of the President and Deputy President, while critical state departments face substantial cuts.
The Programme Based Budget 2024/25 proposes an additional
Ksh1.35 billion for the Office of the President, and Ksh590 million for the
Office of the Deputy President compared to the previous financial year.
If approved, President William Ruto's office will see its
funding rise to Ksh5.37 billion, and Deputy President Rigathi Gachagua's to
Ksh4.88 billion, up from Ksh4.03 billion and Ksh4.29 billion, respectively, in
the preceding financial year.
These increases coincide with the Treasury's efforts to reduce
budgetary allocations to crucial sectors like education, health, roads, and
agriculture.
The State House budget is set to decrease to Ksh9.49 billion
from Ksh9.84 billion, while Prime Cabinet Secretary Musalia Mudavadi's budget
faces a revision down to Ksh1.14 billion from Ksh1.19 billion in 2023/2024.
The Treasury has announced a reduction of Ksh267.5 billion
in the 2024/25 budget, with state departments bearing the large brunt of the
cuts.
Total expenditure and net lending for the upcoming financial
year are now estimated at Ksh3.92 trillion, down from a previous projection of
Ksh4.188 trillion, with cuts across various sectors.
Day-to-day spending, encompassing recurrent expenditures
like wages, salaries, interest payments, and pensions, is expected to decrease
by Ksh77.6 billion to Ksh2.781 trillion from the earlier estimate of Ksh2.859
trillion.
Development spending is also set to take a significant hit,
with estimates reduced to Ksh687.9 billion from Ksh877.8 billion.
The Treasury attributes these spending cuts mainly to the
drag caused by underperforming domestic revenues.
The Kenyan DAILY POST
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