Connect with us

Hi, what are you looking for?

top
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

business

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.

“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.

Advertisement. Scroll to continue reading.

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.

About The Author

Comments
Advertisement

More on Capital News

NATIONAL NEWS

NAIROBI, Kenya, Mar 28 – In a significant development for the East African financial landscape, PayAngel, a global fintech company, has chosen Kenya as...

NATIONAL NEWS

NAIROBI, Kenya, Mar 28 – Former Sports Cabinet Secretary Rashid Echesa has been arrested in an investigation into claims of an extortion racket targeting...

NATIONAL NEWS

The prestigious event, known for honoring the continent's top young entrepreneurs and Chief Executive Officers under 40, will showcase Kenya's growing influence in the...

NATIONAL NEWS

NAKURU, Kenya, Mar 28 – The Chief Magistrate’s Court in Naivasha has acquitted Joshua Waiganjo of close to 10 charges against him. The offenses...

NATIONAL NEWS

President William Ruto directed the Ministry of Sports to work with the International Automobile Federation (FIA) and the WRC to make this a reality.

NATIONAL NEWS

NAIROBI, Kenya, Mar 28 – Small-scale traders and importers can now breath a sigh of relief after the Government ordered the release of their...

Sports

President William Ruto on Thursday officially flagged off the 2024 World Rally Championship (WRC) Safari Rally at the Kenyatta International Conference Centre (KICC), Nairobi....

NATIONAL NEWS

NAIROBI, Kenya, Mar 27 – The Judicial Service Commission (JSC) has approved the establishment of an employee protection unit for victims of sexual harassment...