The National Assembly has commenced deliberations on the 2024 Budget Policy Statement (BPS), which outlines a staggering KES 4.188 trillion spending plan for the upcoming fiscal year.
This proposal, recently tabled by the Chairperson of the Budget and Appropriations Committee, Ndindi Nyoro, encompasses various policy and financial resolutions aimed at tackling myriad challenges across crucial sectors of the economy.
In a compelling address to the House, Nyoro underscored the robustness of Kenya’s economy, stating, “The country’s GDP in 2023 grew by 5.6%, positioning Kenya as the 28th fastest-growing economy globally, surpassing even China.”
Addressing sectoral allocations, Nyoro elucidated on agricultural investments, emphasizing, “We have allocated funds for farm inputs, crop-specific fertilizers, and support for cane and coffee farmers, allocating KES 1 billion and KES 2 billion respectively.”
Furthermore, Nyoro revealed an augmented budget of KES 114.29 billion earmarked for the National Police Service, aimed at enhancing security measures across the nation.
Gabriel Tongoyo, Narok West MP and Chairperson of the Administration and Internal Security Committee, commended the budget’s citizen-centric approach, stating, “The Kenya Kwanza government has truly lived up to its manifesto by integrating budget and policy to meet the needs of Kenyans.”
Significantly, the Teachers Service Commission (TSC) will receive a substantial allocation of KES 369.94 billion, facilitating the payment and promotion of 26,000 Junior Secondary School intern teachers, along with new hires.
The healthcare sector also sees a significant boost, with a proposed budget of KES 151 billion, including KES 4 billion allocated to upgrading hospitals at county levels.
Meanwhile, MPs lauded allocations to the energy sector, notably an additional KES 12 billion for Rural Electrification and Renewable Energy Coopration to enhance last-mile connectivity.
Housing, too, takes center stage, with an allocation of KES 82.53 billion, reflecting the government’s commitment to bolstering this vital sector.
Moreover, a policy resolution advocating for the utilization of locally made materials in affordable housing projects is poised to buoy the local manufacturing industry.
With a budget ceiling of KES 18.27 billion, the State Department for Sports gears up for the African Nations Championships (CHAN) 2024 and Africa Cup of Nations (AFCON) 2027.
The National Assembly is expected to conclude deliberations on the 2024 Budget Policy Statement in the coming days, marking a crucial step towards shaping Kenya’s economic trajectory for the fiscal year ahead.
