State House renovated at KSh 86 million – Kenya Breaking News Now | Kenya Latest News

The National Treasury has allocated KSh86 million for the renovation of State House, Nairobi.

In the budget estimate for the financial year 2021/2022, Treasury Cabinet Secretary Ukur Yatani further estimated the amount to rise to KSh127 million by the end of the financial year 2023/2024.

The general refurbishment cost at State House will cost Sh111 million, rising to KSh172 million in 2023/2024.

The CS further projected that the purchase of specialised plant, machinery and equipment at State House, Nairobi, will increase to KSh45 million in 2023/24.

State House, Sagana will be renovated at KSh21 million and maintained at an extra similar amount.

Refurbishing Nakuru and Mombasa State Houses will cost taxpayers KSh40 million.

The government also manages State Lodges in Kisii and Kakamega counties, with the one in Kisii being the latest to be refurbished.

Rebuilding Mombasa and Nakuru State Houses will cost taxpayers KSh40 million.

The lodge was used as the county commissioner’s residence.

CS Yatani is expected to present a KSh3.6 trillion budget in Parliament in June 2021.

This will be Kenya’s biggest expenditure ever, with more than 50 per cent of the money being channelled towards development.

The State intends to raise its debt ceiling past KSh9 trillion, where the projected debt is expected to hit Sh7.66 trillion from Sh6.69 trillion by June 30, the end of the fiscal year 2020/2021.

The country’s debt may hit KSh8.59 trillion in June 2022 and KSh9.37 trillion by mid-2023.

The Treasury CS hinted at borrowing KSh952.9 billion to fund President Uhuru Kenyatta’s final year in office, the 2021/22 financial year.

KSh2 trillion, which has been raised from proceeds of government revenue, will cover the deficit, according to Yatani.

From the KSh2 trillion, KSh1.7 trillion will be raised from taxes collected by the Kenya Revenue Authority (KRA).