State to raise spending by Sh190bn in proposed budget - News Summed Up

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State to raise spending by Sh190bn in proposed budget


The government has projected a 7.56 per cent increase in its spending for the coming fiscal year 2019/20. National Treasury’s Draft 2019 Budget Policy Statement shows overall expenditure set at Sh2.70 trillion from the Sh2.51 trillion in the 2018/19 year. In September, the government announced amendments to the Sh3.03 trillion budget for 2018/19 year following public outcry on high taxation and spending, leading to a Sh55.1 billion cut on the budget to Sh2.97 trillion. The increase in projected expenditure corresponds to a similar a projected increase in revenue collection by the treasury. The governments expect to make a tax collection including Appropriation-in-Aid (AiA) of Sh2.08 trillion, 13.66 per cent increase from Sh1.83 trillion projected this year.


Source: The Star January 11, 2019 20:03 UTC



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