According to Parliament’s Budget and Appropriations Committee (BAC), Treasury has ignored the economic impact of the Covid-19 pandemic while allocating scarce financial resources across the public sector. At the same time, MPs have asked Treasury to seek renegotiation of Kenya’s external debt obligations in light of the economic stagnation brought by the Covid-19 pandemic. According to budget documents for the 2020-21 Financial Year, Treasury has set aside Sh900 billion to the repayment of debt obligations. At the same time, Treasury effected budget cuts to Parliament and the Judiciary and blocked attempts by MPs to put a cap in statutory deductions. "The National Treasury appreciates the said policy resolution in future budgets,” said Yatani in the 2020/2021 Budget document.

Source: Standard Digital June 06, 2020 14:48 UTC