The upcoming budget preparation for the 2024/25 financial year, alongside the Medium Term Plan, is set to be unveiled by Kenya’s National Treasury and Planning Ministry on August 18, 2023. The launch event will take place at the Kenya School of Monetary Studies. Notably, this effort is occurring against the backdrop of the significant controversy surrounding the Finance Act 2023, which has become a focal point of numerous legal battles and political disputes.
The Treasury has emphasized that this process aligns with the stipulations of Article 201 of the Constitution and Section 35(2) of the Public Finance Management Act 2012. These regulations mandate public participation in matters related to public finance.
Read more: Kenya’s New Budget: Unraveling the Variance and Allocation Breakdown
To facilitate broader engagement, the public can track the proceedings through a web link that will be shared on the National Treasury’s official website and social media platforms. The budget formulation process in Kenya commences in the present financial year, 2023/24, and concludes in the following financial year, December 2024. This approach adheres to the standard accounting and budgeting time frame used by governments, known as the financial year.
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