Treasury extends budget plan time

Treasury extends budget plan time

Kenyans have more days to submit their budget proposals for the Financial Year 2019/2020.

This is after National Treasury extended the deadline for submission of the proposals by institutions, the private sector, non-governmental organisations (NGOs), and individuals by 16 days last week.

The proposals centre on economic policy measures including taxation proposals for consideration by the Cabinet Secretary for the National Treasury and Planning in preparing the National Fiscal Budget for the financial year starting July this year.

“The deadline for submission of the proposals was due on January 15, 2019. In order to ensure wider public participation, the National Treasury hereby extends the deadline for submission of the proposals by 16 days to January 31, 2019,” said Treasury in a public notice signed by National Treasury Principal Secretary Kamau Thugge.

“The proposals submitted should be on measures that will support the realisation of the “Big Four” priorities in addition to enhancing macroeconomic stability. The proposals should, therefore, target to support the manufacturing sector through value addition, enhance food security and nutrition to Kenyans as well as provide Universal Health Coverage and affordable housing to all Kenyans.”

It was not immediately clear why Treasury extended the period for public participation.

Treasury in the 2019 Budget Policy Statement said it intended to spend close to Sh2.7 trillion.

More than 60 per cent of the budget or Sh1.7 trillion will be used on recurrent expenditure - civil servants’ wages, advertising costs, printing, foreign and domestic trips.

Development expenditure, which is critical for the creation of assets for long-term growth such as roads, hospitals, schools, and dams, will get Sh671 billion should the policy be passed as it is.

Disbursements to the 47 counties have been estimated at Sh310 billion, down from the printed estimates of Sh314 billion in the financial calendar ending June this year.