Experts say new revenue formula favours developed regions - News Summed Up

Experts say new revenue formula favours developed regions


ALLOCATIONSOn aggregate, the framework allocates 70 per cent of the revenue to enhancing public services, 26 per cent for promotion of balanced development, and four per cent to promote revenue collection and fiscal prudence. It cited the weight of 17 per cent on health as above the 15 per cent the Abuja Declaration had asked countries to implement. The second basis was approved by Parliament in June 2016 and used to share revenue for fiscal years 2017/18 to 2019/20 amounting to Sh932.5 billion. Without a commitment to equitable development, there is no social contract, which is to say, sooner or later, there will be no Kenya. “The formula has been crafted to channel resources to already developed regions,” Mr Kerrow told the Nation.


Source: Daily Nation July 28, 2020 20:07 UTC



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