National Treasury CS Njuguna Ndung’u Highlights Key Govt Allocations In 2024/2025 Budget

by Timothy Cerullo on Thursday, 13 June 2024 - 5:12 pm

Treasury CS Prof. Njuguna Ndugu During the signing of Aid Credit Facility Agreements between the Governments of Kenya and Hungary, March 27.

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Treasury

National Treasury Cabinet Secretary Njuguna Ndung'u on Thursday, June 13, presented the 2024/2025 budget statement at the National Assembly.

While briefing the lawmakers, the CS underscored the government's ambitious plan that triggered the Ksh4 trillion budget allocation for the next fiscal year.

While expounding on the government's plan, the CS proposed an allocation of Ksh377 billion to National Security.

"These allocations are to the National Police Service, Kenya Defence Forces and the National Intelligence Service," the CS noted.

Treasury CS Njuguna Ndung'u poses for a photo ahead of 2024/2025 budget submission

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National Treasury

Meanwhile, the CS announced that county governments would receive Ksh400.1 billion as an equitable share for the first time in 12 years.

To scale up the fight against corruption, the CS proposed a Ksh4.2 billion allocation to the Ethics and Anti-Corruption Commission (EACC) and the Office of the Director of Public Prosecutions.

Additionally, Ksh6.9 billion would be allocated to the State Law Office and Ksh8.7 billion to the Office of the Auditor General.

According to CS Njuguna Ndung'u, the government has also proposed an allocation of Ksh656.6 billion towards the Education sector.

The allocation would include ksh30 billion to fund Junior Secondary School interns, Ksh36 billion to fund the Higher Education Loans Board (HELB) and Ksh3 billion to the school feeding program.

In a bid to achieve food security, the government proposed the allocation of Ksh54 billion for the agricultural sector.

In its breakdown, the treasury CS noted that Ksh10 billion would go to fertiliser subsidy and Ksh6 billion to the agricultural value chain.

The government also proposed the allocation of Ksh23.7 billion to support tourism, sports, culture and recreation.

To achieve Universal healthcare, the Government announced the allocation of Ksh127 Billion to the health sector, out of which Ksh 2 billion would go towards free maternity healthcare.

"Ksh 36.6 Billion has been allocated towards water and sewerage," the CS added.

The government is also proposing an additional allocation of Ksh 5 billion for the Hustlers Fund and an additional allocation of Ksh 200 million for the Youth Enterprise Development Fund.

CS Ndung'u also proposed a Ksh193.4 billion allocation for the development of roads and Ksh25.2 billion for expanding railway transport.

Similarly, Ksh200 million for the acquisition of ferries for Lake Victoria and Ksh69.7 billion to the energy sub-sector.

"The government intends to create an elaborate tax system by expanding the tax base and reducing tax expenditure which stood at 2.9% of Kenya's GDP in the year 2022," CS Njuguna Ndung'u disclosed.