Connect with us

Hi, what are you looking for?


Kenya budget process kicks off

NAIROBI, Kenya, Feb 12 – The Finance Ministry is inviting various stakeholders to submit their proposals for consideration in the upcoming 2010/2011 fiscal year budget in June.

Finance Permanent Secretary Joseph Kinyua said the ministry had embarked on the preparation of the national budget and would appreciate views on how the government can achieve its development goals for 2030.

“In addition to compiling the Annual Government Estimates of Revenues and Expenditures for tabling in Parliament, the ministry similarly regards this period as important for consulting various stakeholders on key policy issues,” the PS said in a paid-up advertisement in the local dailies.

He said the suggestions should include measures to encourage private sector growth and the regional integration and those that can give impetus to economic growth now and in the future.

Treasury also welcomes proposals on how the government can broaden the tax base and simplify the current tax regime in order to increase revenue collection, he said.

“We anticipate that your submissions will also enable the government to encourage innovation and entrepreneurship, create employment and reduce poverty,” he added.

While thanking all those who have submitted proposals in previous budgets, the PS has assured that all views would be taken into account.

Written proposals should be forwarded to Treasury or e-mailed to before the February 26.

“The proposals should be specific, supported with a brief statement of the issue to be addressed and the rationale for the proposals,” Mr Kinyua advised.

Advertisement. Scroll to continue reading.

Various stakeholders also take advantage of this period to lobby the government to either review tax rates or policy measures that they feel are not favourable to them.

The Kenyan economy, which is on a recovery path after grappling with a myriad of challenges, is projected to grow at between 3 and 3.5 percent in 2010 up from the 2.5 percent posted last year. The growth is expected to be supported by the implementation of the Sh22 billion economic stimulus programs in all sectors of the economy and hopefully favourable weather conditions.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...