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THE STANDARD
President Uhuru Kenyatta at State House, Nairobi, during the 2020 virtual African Delivery Exchange Conference. The 2021-22 Budget will the last full spending plan his administration will oversee. [File]
The government will spend Sh3 trillion in the year to June 30, 2022, pushing President Uhuru Kenyatta’s eight-year total spending to Sh18.5 trillion.
But as fate would have it, the president’s fiscal policy - which largely depends on massive spending and public revenue - might end as it started: with high expenditure needs, decreasing tax revenues and increased borrowing.
Thanks to the Covid-19 pandemic, the Treasury will chalk up more debt, borrowing Sh937.6 billion to plug a budget hole caused by the virus, which has left the economy on its knees.
THE STANDARD
President Uhuru Kenyatta at State House, Nairobi, during the 2020 virtual African Delivery Exchange Conference. The 2021-22 Budget will the last full spending plan his administration will oversee. [File]
The government will spend Sh3 trillion in the year to June 30, 2022, pushing President Uhuru Kenyatta’s eight-year total spending to Sh18.5 trillion.
But as fate would have it, the president’s fiscal policy - which largely depends on massive spending and public revenue - might end as it started: with high expenditure needs, decreasing tax revenues and increased borrowing.
Thanks to the Covid-19 pandemic, the Treasury will chalk up more debt, borrowing Sh937.6 billion to plug a budget hole caused by the virus, which has left the economy on its knees.