Kenya's Budget
Kenya's Budget
- Thread starter Namtih58
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Ubungoubungo
JF-Expert Member
- Jul 28, 2008
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how much is that in the US dollars...thats a good money to fall in to the pockets of corrupt leaders who will not eve be accoutable to you...learnn from tz we have prosecuted several high officials...whats up kenya? take Biden's advice...
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Yaani wewe chuki imekuingia hata elimu kwa watoto wa jirani yako inakuuma. Hata hivyo unajuaje zitaibiwa, wacha wajaribu bwana, ndio maana afrika hatuendelei, yaani kwa wengine wetu woga umetuingia hadi imekuwa afadhali hata tusijaribu.
14: 20 Kenya Finance minister will shortly read the Budget in Parliament .
14: 25 Finance minister Uhuru Kenyatta poses for a photo opportunity outside Parliament Buildings moments before he reads the 2010/2011 Budget.
14:30 Finance minister Uhuru Kenyatta strolls into Parliament accompanied by his assistant Oburu Odinga and Planning minister Wycliffe Oparanya
14:32 Speaker Kenneth Marende leads the House with a word of prayer.
14: 35 Mr Kenyatta says the theme of the Budget is towards sustained economic growth and development.
14:38 He says that the economy has recovered with a growth of 2.6 pc recorded in 2009 up from 1.6 pc in 2008.
14:40: The Exchange rate has remained stable, but weakened in May as a result of prices in the Euro zone.
14: 43 GDP growth projected by between 4.5pc and 4.7pc
14: 45 Mr Kenyatta says the government will focus on long term efforts as it consolidate economic recovery.
14: 47 Kenya must maintain a high growth path and will implement strategic measures including accelerating privatisation, social sectors.
14: 49 Framework will address unemployment among youths by promoting entrepreneurial skills.
14: 50 Low inflation at 5pc and expand economic opportunities for Kenyans.
14: 52 Mr Kenyatta says government will prioritise infrastructural projects to drive economic growth.
14: 53 Kenya fully committed to implement the EAC framework.
14:54 More needs to be done in tax compliance to ensure government meets its revenue target.
14:55 Mr Kenyatta says tax evasion is an economic crime and government response will be swift and indicts forex bureaus of aiding the vice.
14: 57 Directs KRA and Central Bank to carry out audit of forex bureaus and report to him by end of September. VAT refunds within 120 days.
14: 59 He says there's room for improvement of ministries spending within the financial year and urges tem to absorb 80pc of development monies.
15:00 Reduce domestic borrowing to a 38pc in 2010/2011. Government has developed a strategy on debt refinancing.
15: 02 Savings form debt refinancing will be used to fund critical development projects.
15:03 Mr Kenyatta says Regulatory Bill, if enacted, will check unilateral and arbitrary costs of doing business.
15:04 He says Treasury will push for enactment of various bills, including Partnership Bill, to improve the business climate in the country.
15:05 Severe penalties imposed on businesses involved in fraud.
15:07 Government has prioritised security projects to attract investments into the country. Mr Kenyatta says confident Kenyans will see fruits of investments soon
15:08 Sh182bn allocated towards financing prioritised infrastructure projects.
15:10 Sh17.86bn allocated to improve Kenya's road network.
15:12 Sh4.2bn to open up Kisumu as one of Kenya's Vision 2030 towns.
15:14 On energy, Mr Kenyatta says government will expand resources to acquire cheaper energy. ERC will review electricity tariffs with a view of making cost of power predictable.
15:15 Sh31.5bn to fund expansion in the energy sector, which include 5bn to fund rural electrification.
15:17 Operational efficiencies have undermined doing business especially at the port of Mombasa says the Finance minister. Government will fast track construction of a standard gauge railway at the coastal town.
15:19 Sh1.9bn to upgrade commuter transport in the capital.
15:20 Mr Kenyatta says education is a key pillar to economic development for any country and allocates Sh9.2bn towards Free Primary Education and Sh16bn towards Free Secondary Education.
15:21 Purchase of 300 computers in each constituency to ensure that they embrace ICT.
15.23 Mr Kenyatta allocates Sh1bn towards recruitment of 15 nurses and 5 technical staff for every constituency to improve health.
15: 25 He says investment in rural agriculture, including fish farming, is paramount and allocates Sh5.7bn to maintain roads, improve market access, research and other interventions.
15: 27 He allocates Sh14.3bn to the CDF to finance development projects at the constituency level and assures MPs of speedy disbursement.
15:29 Mr Kenyatta says government will diversify to other potential areas through irrigation around Tana, Makueni to improve food security.
15:30 Provides for recruitment of six extension officers in every constituency and mobile food driers.
15:34 A breakdown of communication interrupts the reading of the Budget temporarily.
15:37 Communication is restored and Mr Kenyatta says ASAL areas face challenges but there's social economic potential that can be exploited to improve livelihoods.
15:39 Allocates Sh16bn to financing key projects in the ASAL areas including construction of hospital and low cost schools.
15:41 Sh200m to allow construction of watering holes for livestock to benefit pastoral farmers.
15:43 Sh250m for construction of an additional 10 slaughter houses to boost the beef industry.
15:46 Mr Kenyatta says the government has developed strategies to deal with climate change and allocates Sh1.5bn to ensuring conservation efforts are strengthened.
15:49 He says that youth unemployment remains a major challenge for the government and says the key to a prosperous Kenya lies with the youth.
15:46 Mr Kenyatta says the government has developed strategies to deal with climate change and allocates Sh1.5bn to ensuring conservation efforts are strengthened.
15:49 He says that youth unemployment remains a major challenge for the government and says the key to a prosperous Kenya lies with the youth.
15:51 Mr Kenyatta allocates Sh1bn to initiate expansion of training institutions towards equipping youth with skills to get employment, grow SMEs. Measures will include reducing days required to start a business, get a business permit, among others.
15:55 He allocates Sh560m to upgrade all 14 science and technology colleges countrywide.
15:58 Allocates Sh3.8bn to a revolving fund charged with extending credit facilities to 8.2m Kenyans engaged in the informal sector through SMEs.
16:02 Mr Kenyatta says government will take bold steps to but Kenya products to build the country.
16:06 He says the government will adopt leasing and mortgage as a platform to accessing cheap housing.
16:09 Implementation of last Budget affected by many factors, including prolonged drought and total revenues fell by Sh500m.
16:11 Mr Kenyatta says development expenditure for 2010/2011 is Sh321bn, out of which Sh96bn will be financed by appropriations aid.
16:13 Received Sh40.4bn in pledges from external sources, including donors.
16:15 Mr Kenyatta says fiscal framework of 2010/2011 is fully financed.
16:17 He proposes exempting import duty on poultry.
16:26 Finance minister proposes to amend the law to remove paying advance tax for PSVs drivers and conductors before acquiring licences.
16:29 Mr Kenyatta proposes to increase excise tax for malt beer.
16:31 Amnesty on taxation for remittances brought in by Kenyans in the Diaspora.
16:34 He proposes to amend law to aid Kacc remit funds from seized property to the Consolidated Fund.
16:37 Mr Kenyatta proposes to amend Central Bank Act to disclose information related to surveillance and fraud activities.
16:40 Amend law to allow pensioners to access their savings within 30 days down from the current 60 days.
16:42 Mr Kenyatta concludes the Budget Speech.
16: 45 Speaker Marende adjourns the House to June 15 and invites MPs to a luncheon hosted by Treasury.
14: 25 Finance minister Uhuru Kenyatta poses for a photo opportunity outside Parliament Buildings moments before he reads the 2010/2011 Budget.
14:30 Finance minister Uhuru Kenyatta strolls into Parliament accompanied by his assistant Oburu Odinga and Planning minister Wycliffe Oparanya
14:32 Speaker Kenneth Marende leads the House with a word of prayer.
14: 35 Mr Kenyatta says the theme of the Budget is towards sustained economic growth and development.
14:38 He says that the economy has recovered with a growth of 2.6 pc recorded in 2009 up from 1.6 pc in 2008.
14:40: The Exchange rate has remained stable, but weakened in May as a result of prices in the Euro zone.
14: 43 GDP growth projected by between 4.5pc and 4.7pc
14: 45 Mr Kenyatta says the government will focus on long term efforts as it consolidate economic recovery.
14: 47 Kenya must maintain a high growth path and will implement strategic measures including accelerating privatisation, social sectors.
14: 49 Framework will address unemployment among youths by promoting entrepreneurial skills.
14: 50 Low inflation at 5pc and expand economic opportunities for Kenyans.
14: 52 Mr Kenyatta says government will prioritise infrastructural projects to drive economic growth.
14: 53 Kenya fully committed to implement the EAC framework.
14:54 More needs to be done in tax compliance to ensure government meets its revenue target.
14:55 Mr Kenyatta says tax evasion is an economic crime and government response will be swift and indicts forex bureaus of aiding the vice.
14: 57 Directs KRA and Central Bank to carry out audit of forex bureaus and report to him by end of September. VAT refunds within 120 days.
14: 59 He says there's room for improvement of ministries spending within the financial year and urges tem to absorb 80pc of development monies.
15:00 Reduce domestic borrowing to a 38pc in 2010/2011. Government has developed a strategy on debt refinancing.
15: 02 Savings form debt refinancing will be used to fund critical development projects.
15:03 Mr Kenyatta says Regulatory Bill, if enacted, will check unilateral and arbitrary costs of doing business.
15:04 He says Treasury will push for enactment of various bills, including Partnership Bill, to improve the business climate in the country.
15:05 Severe penalties imposed on businesses involved in fraud.
15:07 Government has prioritised security projects to attract investments into the country. Mr Kenyatta says confident Kenyans will see fruits of investments soon
15:08 Sh182bn allocated towards financing prioritised infrastructure projects.
15:10 Sh17.86bn allocated to improve Kenya's road network.
15:12 Sh4.2bn to open up Kisumu as one of Kenya's Vision 2030 towns.
15:14 On energy, Mr Kenyatta says government will expand resources to acquire cheaper energy. ERC will review electricity tariffs with a view of making cost of power predictable.
15:15 Sh31.5bn to fund expansion in the energy sector, which include 5bn to fund rural electrification.
15:17 Operational efficiencies have undermined doing business especially at the port of Mombasa says the Finance minister. Government will fast track construction of a standard gauge railway at the coastal town.
15:19 Sh1.9bn to upgrade commuter transport in the capital.
15:20 Mr Kenyatta says education is a key pillar to economic development for any country and allocates Sh9.2bn towards Free Primary Education and Sh16bn towards Free Secondary Education.
15:21 Purchase of 300 computers in each constituency to ensure that they embrace ICT.
15.23 Mr Kenyatta allocates Sh1bn towards recruitment of 15 nurses and 5 technical staff for every constituency to improve health.
15: 25 He says investment in rural agriculture, including fish farming, is paramount and allocates Sh5.7bn to maintain roads, improve market access, research and other interventions.
15: 27 He allocates Sh14.3bn to the CDF to finance development projects at the constituency level and assures MPs of speedy disbursement.
15:29 Mr Kenyatta says government will diversify to other potential areas through irrigation around Tana, Makueni to improve food security.
15:30 Provides for recruitment of six extension officers in every constituency and mobile food driers.
15:34 A breakdown of communication interrupts the reading of the Budget temporarily.
15:37 Communication is restored and Mr Kenyatta says ASAL areas face challenges but there's social economic potential that can be exploited to improve livelihoods.
15:39 Allocates Sh16bn to financing key projects in the ASAL areas including construction of hospital and low cost schools.
15:41 Sh200m to allow construction of watering holes for livestock to benefit pastoral farmers.
15:43 Sh250m for construction of an additional 10 slaughter houses to boost the beef industry.
15:46 Mr Kenyatta says the government has developed strategies to deal with climate change and allocates Sh1.5bn to ensuring conservation efforts are strengthened.
15:49 He says that youth unemployment remains a major challenge for the government and says the key to a prosperous Kenya lies with the youth.
15:46 Mr Kenyatta says the government has developed strategies to deal with climate change and allocates Sh1.5bn to ensuring conservation efforts are strengthened.
15:49 He says that youth unemployment remains a major challenge for the government and says the key to a prosperous Kenya lies with the youth.
15:51 Mr Kenyatta allocates Sh1bn to initiate expansion of training institutions towards equipping youth with skills to get employment, grow SMEs. Measures will include reducing days required to start a business, get a business permit, among others.
15:55 He allocates Sh560m to upgrade all 14 science and technology colleges countrywide.
15:58 Allocates Sh3.8bn to a revolving fund charged with extending credit facilities to 8.2m Kenyans engaged in the informal sector through SMEs.
16:02 Mr Kenyatta says government will take bold steps to but Kenya products to build the country.
16:06 He says the government will adopt leasing and mortgage as a platform to accessing cheap housing.
16:09 Implementation of last Budget affected by many factors, including prolonged drought and total revenues fell by Sh500m.
16:11 Mr Kenyatta says development expenditure for 2010/2011 is Sh321bn, out of which Sh96bn will be financed by appropriations aid.
16:13 Received Sh40.4bn in pledges from external sources, including donors.
16:15 Mr Kenyatta says fiscal framework of 2010/2011 is fully financed.
16:17 He proposes exempting import duty on poultry.
16:26 Finance minister proposes to amend the law to remove paying advance tax for PSVs drivers and conductors before acquiring licences.
16:29 Mr Kenyatta proposes to increase excise tax for malt beer.
16:31 Amnesty on taxation for remittances brought in by Kenyans in the Diaspora.
16:34 He proposes to amend law to aid Kacc remit funds from seized property to the Consolidated Fund.
16:37 Mr Kenyatta proposes to amend Central Bank Act to disclose information related to surveillance and fraud activities.
16:40 Amend law to allow pensioners to access their savings within 30 days down from the current 60 days.
16:42 Mr Kenyatta concludes the Budget Speech.
16: 45 Speaker Marende adjourns the House to June 15 and invites MPs to a luncheon hosted by Treasury.
Ab-Titchaz
JF-Expert Member
- Jan 30, 2008
- 14,630
- 4,253
Finance Minister Uhuru Kenyatta (holding a briefcase) with colleagues from Treasury on June 10, 2010 before the presentation of the 2010/2011 Budget in Parliament.
Finance Minister Uhuru Kenyatta (centre), Planning minister Wycliffe Oparanya (right) and Assistant Minister Dr Oburu Odinga outside Treasury before leaving for Parliament on June 10, 2010.
Finance Minister Uhuru Kenyatta is escorted from Treasury to Parliament Buildings for the reading of the Budget on June 10, 2010
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
- 91,917
Sat Jun 12, 2010
NAIROBI (Reuters) - The European Union said on Saturday it will give Kenya about 500 million euros to supplement its 2010/11 budget, a 25 percent rise over 2009/10.
East Africa's biggest economy on Thursday unveiled a 996.82 billion shilling budget for 2010/11, of which 82.7 billion shillings will be in external financing.
"In the financial year 2009/10, EU Member States and European Commission disbursed more that 400 million euros ... in official development assistance to Kenya," the EU said in a newspaper advertisement.
"We similarly estimate that approximately 500 million euros will be disbursed in 2010/11."
In past budgets Kenya has factored in minimal donor funds as donors, concerned about corruption in government, tightened purse strings. This time around, the government says it would lean on external concessional funds.
Sectors that EU assistance has targeted in the past include agriculture, education, energy, roads and health.
http://af.reuters.com/articlePrint?articleId=AFJOE65B04C20100612
My take: I thought Kenya is 100% independent on budget! sasa this 25% is coming from where? Can the Kenyans explain this to us?
NAIROBI (Reuters) - The European Union said on Saturday it will give Kenya about 500 million euros to supplement its 2010/11 budget, a 25 percent rise over 2009/10.
East Africa's biggest economy on Thursday unveiled a 996.82 billion shilling budget for 2010/11, of which 82.7 billion shillings will be in external financing.
"In the financial year 2009/10, EU Member States and European Commission disbursed more that 400 million euros ... in official development assistance to Kenya," the EU said in a newspaper advertisement.
"We similarly estimate that approximately 500 million euros will be disbursed in 2010/11."
In past budgets Kenya has factored in minimal donor funds as donors, concerned about corruption in government, tightened purse strings. This time around, the government says it would lean on external concessional funds.
Sectors that EU assistance has targeted in the past include agriculture, education, energy, roads and health.
http://af.reuters.com/articlePrint?articleId=AFJOE65B04C20100612
My take: I thought Kenya is 100% independent on budget! sasa this 25% is coming from where? Can the Kenyans explain this to us?
Kichuguu
Platinum Member
- Oct 11, 2006
- 17,048
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Miaka kadhaa iliyopita Kenya waliendesha nchi yao bila msaada wa nje hata senti moja, na wala hawakuwa na matatizo ya kutisha. Nadhani misaada hii itawasaidia katika kuwekeza na kuboresha miundo mbinu yao; huenda ndiyo maana wanataka kujenga kiwanja cha ndege cha kisasa oake mpakani kwetu na kujenga barabara mpya ya kisasa kuungandisha jiji la Nairobi na jiji la Juba huko Sudani.
Pamoja na ukabila wao, viongozi wa Kenya wanajitahidi sana kuendesha nchi kiuchumi kuliko waswahili wa kwetu wanoenedesha nchi kimzaa kimzaa.
Pamoja na ukabila wao, viongozi wa Kenya wanajitahidi sana kuendesha nchi kiuchumi kuliko waswahili wa kwetu wanoenedesha nchi kimzaa kimzaa.
the explanation is simple,
1) kenya has never 100% financed its budget but it twice reduced its dependence on foreign aid to an insignificant less than 2% of the budget which means kenya DID NOT NEED foreign aid to finance its budget, we could
2)kenya for 2 years fully financed its own budget. the question is, how many countries in africa have managed to do that???
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
- 91,917
very few indeed e.g. Botswana but for the case of Kenya you have been getting development aid on those two occassions, so it was just the twist of words cause i believe Kenya can't do itself without aid!
As you can read we never asked for the 500 euros,it is their decision to give us not ours,we have never over depended on donors,during Moi's and KANU days where corruption was legal, donors shied away and when kibaki and Narc came to power we absolutely turned away from the begging club and learned how to raise our own cash and live within our means though we cant turn away anyone willing to give us cash.
RealDeal
JF-Expert Member
- Jun 16, 2010
- 297
- 1
If you do your mathematics well you realize that it is 8% of the budget. over 90% is Kenyan money.
Bantugbro
JF-Expert Member
- Feb 22, 2009
- 4,473
- 4,252
What are you talking about?
Bantugbro
JF-Expert Member
- Feb 22, 2009
- 4,473
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Is there anything to be proud of?? if last year it was 2% now 8% what next will be? and after the 5 year term of Kibaki gov..... plse be real like you name suppose to.
RealDeal
JF-Expert Member
- Jun 16, 2010
- 297
- 1
Well, they gave us, we didn't borrow. I guess it would be a bad thing to turn down the offer from a friend. Lemme be real by saying that it can never be over 30% like in TZ.
Bantugbro
JF-Expert Member
- Feb 22, 2009
- 4,473
- 4,252
Good for you!!!
You cant read!!! i mean we have never depended on donors to fund our budget,we generate money ourselves however we cant turn away anybody with a good heart with cash to give us,e.g. EU with their 500M Euro donation.
It is so because we have invested heavily in infrastructure,e.g thika highway,lamu moyale/juba highway,lamu port,mordrern railway from lamu to juba just to name a few.our brains are at work brother.
Bantugbro
JF-Expert Member
- Feb 22, 2009
- 4,473
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Good to hear that..
Bantugbro
JF-Expert Member
- Feb 22, 2009
- 4,473
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Not very convincing but a clever move though..(i don't ask for help but they will see through my face that i really need help) some kind of approach!...