Pandemic and politics: New realities hit Budget - News Summed Up

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Pandemic and politics: New realities hit Budget


The Draft 2021 Budget Policy Statement (BPS), which was released by the Treasury on Monday for public participation, illustrates this dawning reality check. The persistence of the Covid-19 pandemic and required lockdowns, social distancing and its effect on consumption, have hit global economies, which are key source markets for Kenya. Also, increased public spending, particularly increased wages, pose a huge risk to the country’s fiscal space. But the economy is expected to rise from the ravages of Covid-19, particularly if the virus vaccine is rolled out. Much of the reduction is on the conditional allocation, which has been scaled downwards from Sh58.8 billion to Sh33.7 billion.


Source: Standard Digital January 27, 2021 03:00 UTC



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