Kenyans Asked to Send Suggestions on Budget Policy Set to More than Double Revenue Collection

 

The National Assembly of Kenya, in adherence to Article 118(1)(b) of the Constitution, invites public participation concerning the 2024 Budget Policy Statement (BPS) and the 2024 Medium-Term Debt Management Strategy. A National Assembly session in progress. The National Assembly has invited submissions on the Budget Policy Statement. Photo: @NAssemblyKE. Source: Twitter What is the policy statement?  Submitted by the Cabinet Secretary for the National Treasury and Economic Planning on February 15, 2024, these documents are pivotal for fiscal planning and prudent debt management.  The Budget Policy Statement outlines strategic priorities guiding both national and county government budgets for the 2024/25 Financial Year and beyond. Additionally, the Medium-Term Debt Management Strategy delineates borrowing plans for the same period, emphasizing objectives to mitigate costs and risks associated with public debt. What is the importance of public participation? The National Democratic Institute (NDI-Kenya) held a morning conversation at the Sarova Stanley Hotel in Nairobi to discuss how to increase conversations on the BPS. The event featured presentations from NDI-Kenya, the Media, and Former governor Ndiritu Muriithi, an economist. Speaking during the event, Dennis Omondi, the country director of NDI-Kenya, said that Kenyans need to engage with the BPS now because it will be too late once the public participation stage passes.  "My hope is that this conversation this morning shifts our attention to see that if we don't engage at this point, the latter engagements are actually nulled. They don't give much because once the Budget Policy Statement is approved, you have given Treasury the right to actually go through the processes of meeting the demand that has been approved. The governor has just told us that we will have to raise over KSh 300 billion more in taxes. Parliament will approve it, how do we go back again and tell them that these taxes are bad, yet you approved they need to raise it?" Omondi said. How to make submissions on Budget Policy Statement Interested parties are encouraged to submit memoranda on these documents to the relevant Committees - Budget and Appropriations and Public Debt and Privatization. Submissions are due by February 26, 2024, at 5:00 pm and should clearly state the submitter's name and contact details. Memoranda can be hand-delivered to the Office of the Clerk at the Main Parliament Buildings in Nairobi or emailed to cna@parliament.go.ke. William Ruto's gov't hopes to collect KSh 324b more in taxes The government aims to collect KSh 2.95 trillion in taxes in the fiscal year 2024/25, relying on proposed extensive tax measures. For the current fiscal year ending in June, the Kenya Revenue Authority (KRA) has been tasked with collecting KSh 2.62 trillion from both direct and indirect taxes. KRA fell short of its target for the first six months of the 2023/2024 financial year by KSh 186.2 billion, with the largest contributions to this shortfall coming from income taxes.

by  Elijah Ntongai