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Thursday, May 26, 2022

Why This Year’s Budget Will Be Read 2 Months Before Time

  • National Assembly Speaker Justin Muturi has given Treasury Cabinet Secretary Ukur Yatani the go-ahead to present the 2022/2023 budget on Thursday, April 7, without the submission of the Finance Bill and final estimates.

    “As you are aware, the estimates have not been submitted yet for the house to take the next steps in the budget cycle

    However, you will observe that the budget process for the financial year 2022/2023 is happening under extraordinary circumstances that are unique to an election year,’ Muturi elaborated.

    Treasury CS Ukur Yattani (with briefcase) poses for a photo with his docket’s officials before reading the Budget 2020/21 in Parliament on Thursday, June 11, 2020
    File

    Presentation of the Finance Bill and final estimates will be made after the budget statement. This will also see Kenya break from the East African Community treaty that requires member states to submit their budgets at the same time in June. 

    “These unique circumstances not only call for flexibility but also necessitates adjustments to facilitate the conclusion of the budget processes before the house stands adjourned,†Linturi stated

    The Speaker of the National Assembly indicated that the changing of the timelines was temporary due to the upcoming elections.

    “The House is due to proceed on a long recess from Friday, 15th April to Monday, 9th May and thereafter adjourned Sine Die on Thursday 14th June 2022.

    These election-related circumstances are disruptive to the budget timelines that would ordinarily have been observed in an ordinary year. 

    It is instructive to also note that as per the calendar of the House, the date of 30th April when the Cabinet Secretary is expected to submit the estimates to this House falls within the recess period,†explained Muturi.

    Yatani’s budget statement follows the enactment of the County Governments Grant Bill 2021 on March 31, 2022, which took four months of deliberation and risked delaying the process.

    The law will now allow an annual review of the County Government Allocation Bill, which has paved the way for an upcoming debate and passage of the Division of Revenue Bill 2022.

    Kenya's Budget and Appropriations Committee Chairperson Kanini Kega speaking in Parliament on December 3, 2020.
    Kenya’s Budget and Appropriations Committee Chairperson Kanini Kega speaking in Parliament on December 3, 2020.
    The Standard
  • Source: KENYAGIST.COM

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