Treasury CS Henry Rotich presents the Budget

Kenya will spend Sh3.02 trillion in the new financial year that starts in two weeks.

National Treasury Cabinet Secretary Henry Rotich is presenting the Budget in Parliament.

Here are some highlights from his speech:

How Budget speaks to Big Four:

• Allocated Sh450.9 billion to Big Four and their enablers.

  Universal healthcare - Sh48.8 billion.

  Social welfare initiative - Sh7.9 billion.

• We expect counties to control of expenditures on personal emoluments.
• Public debt is at sustainable levels.
• We expect to borrow according Public Management Act, 2012, and seek to minimise cost of public debt.
• The loan proceeds from our partners have been used mostly for infrastructure like roads and energy.
• In 2019/2020 financial year we expect revenue of Sh2.1 trillion.
• Deficit 5.6 percent, a decline from of 7.4 last financial year.
• Kenya Revenue Authority to upgrade IT system.
• Enhance transparency and accountability in procurement, cut on overspending and standardise costs.
• Actions to stem expenditure:
  Extension of services for civil servants retiring at the age of 60.
  Rooting out of ghost workers
  Use of Ifmis to improve on wage and pension management.
• I have set aside Sh10 billion for youth and women. I encourage them to take advantage of it.
• Youth registration to Ajira of Sh10,000. To promote businesses that create jobs.
• For importers and exporters: To facilitate faster clearance of cargo and curb tax evasion and reduce entry of counterfeit goods.
• We expect to reduce cost of electricity to manufacturers by 20 percent.
• The Budget lays a strong foundation for addressing President Uhuru Kenyatta's Big Four Agenda.
• Government will take measures to mitigate negative impacting crops.