Friday, November 22, 2024 - The National Assembly Budget Committee Chairperson Ndindi Nyoro has blasted the National Treasury over the failure to hit its revenue projections and what he termed as unclear budget targets.
Speaking
during the Budget Appropriations hearing, Ndindi blasted the Treasury over
its prioritisation of recurrent expenditure at the expense of development.
Nyoro
also took issue with the continued revenue shortage that has exposed
the country to more borrowing, despite local pressure from Kenyans for the
government to stop borrowing.
''We
keep making the same mistake all the time, for the last 10 years, our ordinary
revenue has only been achieved at 67 per cent.”
“If you
keep having a downfall between our targets and the actual revenue, then why do
we have to target higher?'' Ndindi questions.
But in
response, the Treasury expressed optimism that the anomalies would be rectified in
the next budget of 2025/2026.
According
to Treasury Principal Secretary Chris Kiptoo, the government would align
its targets with the demands of Nyoro, especially with the lowering of
inflation and other key economic indicators that have gained the right
trajectory.
This
happens even as the Treasury PS revealed that the government would put more
stringent measures in place to curb mismanagement of funds within government
agencies.
The PS
added that the government will not automatically allocate funds to state
departments and agencies, as they will have to provide justifications for the
expenditure.
As of
July 2024, the public debt in Kenya accumulated to roughly Ksh10.6
trillion, according to data from the Treasury.
The Kenyan DAILY POST
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