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Treasury Cabinet Secretary poses for a photo on the steps of the National Treasury Building as he set off to Parliament to present the 2020/2021 budget/CFM/Timothy Olobulu

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Yatani delivers inaugural budget speech anchored on post-virus recovery plan

NAIROBI, Kenya, Jun 11 – Treasury Cabinet Secretary Ukur Yattani Thursday highlighted economic recovery as the government’s priority under the 2020/2021 budget.

Yatani who is making his first budget presentation as the Treasury CS was received by Members of Parliament led by National Assembly Majority leader Aden Duale.

A visibly Jovial Yattani was driven from Treasury to Parliament in a convoy and a police escort.

He said long-awaited budget is balanced and calibrated to address the country’s economic recovery agenda.

“Of course,  numbers are balanced, how to roll out is another matter and we are working on very firm projections between revenue and our own anticipated expenditure,” Yattani said.

Yattani allocated Sh10 billion unemployed youths in urban areas during and after the coronavirus pandemic with the sum set to be expended under the Kazi kwa Vijana initiative which will offer casual jobs to the youths.

The government is planning to to engage over 200,000 youth, to work under the National Hygiene Programme, in measures aimed at cushioning them from the effects of coronavirus.

He further stated that Sh5 billion has been allocated for rehabilitation of damaged access roads and bridges.

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“These are unemployed youths in the major cities and urban settlements of Nairobi Mombasa, Kisumu, Eldoret and Nakuru and other major towns. They will engage in fumigation and cleaning of market and other environmental management activities,” Yattani said.

The Treasury projects to collect at least Sh1.9 trillion including Sh1.6 trillion of the ordinary revenue which includes tax collections, investment incomes among other revenues collected by Kenya Revenue Authority.

The figures projected under the 2020 Budget Policy Statement were adjusted down from an initial revenue target of Sh2.1 trillion.

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