To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Budget Review & Analysis Seminar (physical option)
Date: 12th June 2026
Time: 09.00-11.30am
Venue: ICPAK Auditorium, CPA Centre
Overview
The national budget serves as a strategic blueprint outlining the Government’s revenue projections and expenditure plans for the fiscal year, and remains a critical instrument for economic management, resource allocation, and policy prioritization. The FY2025/26 Budget has been formulated against a backdrop of persistent domestic and global economic challenges, including inflationary pressures, elevated debt-servicing costs, and constrained fiscal space, alongside emerging macroeconomic opportunities.
The 2026/27 budget is structured around key economic and social sectors that drive national development, with allocations reflecting government priorities under the Bottom-Up Economic Transformation Agenda (BETA).
The National Treasury has proposed Kshs 4.78 trillion budget for FY 2026/27, equivalent to 23% of GDP. This comprises recurrent expenditure of Kshs. 3,538.7 billion, development expenditure of Kshs. 749.0 billion and transfers to county governments of 495.7 Billion.
According to the Budget Policy Statement 2026, the fiscal deficit including grants is expected to reach Kshs 1,115.8 billion (5.3% of GDP) in FY 2026/27, from the projected deficit of KSh 1,140.7 billion (6.0% of GDP) in FY 2025/26. This will be financed through net external borrowing amounting to KSh 225.5 billion (1.1% of GDP) and net domestic financing of KSh 890.4 billion (4.2% of GDP).
The proposed expenditure is distributed across three broad segments of government spending, with the national government sector (Executive, Parliament and Judiciary) receiving Kshs 2.817 trillion. Education remains the largest sectoral allocation, increasing from Kshs. 754.9 billion in 2025/26 to Kshs. 780 billion in 2026/27, representing a moderate 4%. Infrastructure development, particularly through the Ministry of Roads and Transport, follows closely with an allocation of KSh 312 billion. This highlights sustained investment in connectivity and logistics as key enablers of economic growth.
The health sector also records a significant expansion, with the State Department for Medical Services increasing from KSh 105.95 billion in 2025/26 to KSh 132.97 billion in 2026/27, representing a 25.5% increase. This growth is largely driven by expanded investments in national referral services, health products and technologies, and social protection in health.
Recent economic data indicates that Kenya’s economy expanded by 4.9% year-on-year in Q3 2025, driven largely by resilience in the agriculture and construction sectors. This growth has been achieved despite significant public debt repayment obligations and ongoing fiscal consolidation efforts.
Notwithstanding the growth momentum, the economy continues to face structural challenges, including underperforming revenue collection, high public debt levels, and persistent cost-of-living pressures. Revenue targets have, in recent years, fallen short of projections, while interest payments continue to consume an increasing share of tax revenues—highlighting ongoing public finance management constraints.
It is against this evolving economic landscape that ICPAK convenes the Budget Review & Analysis Seminar – Current State of Affairs, aimed at providing a timely and in-depth analysis of the country’s fiscal position, budget implementation realities, and the implications of recent policy and legislative changes on taxation, public financial management, and overall economic performance.
The seminar will address the following key thematic areas:
• Macroeconomic Performance & Outlook: Economic growth, inflation trends, employment, and sectoral performance.
• Revenue Mobilization & Tax Policy Changes: Recent developments in tax policy, administration, and compliance strategies.
• Fiscal Framework, Budget highlights and Public Expenditure Priorities: Analysis of budgetary allocations to key sectors, including education, health, infrastructure, counties, and social protection.
• Public Debt Dynamics & Fiscal Sustainability: Trends in debt servicing, debt-to-GDP ratio, and emerging fiscal risks.
• Budget Implementation Challenges: Revenue underperformance, execution bottlenecks, pending bills, accountability and governance issues.
• Implications for Professionals & Businesses: Strategic insights for accountants, tax practitioners, CFOs, and financial managers.
• Future Budget & Policy Outlook: Emerging trends and possible scenarios for FY2026/27 and beyond.
Target Audience
Audit and tax practitioners, Personnel handling tax issues in organizations, Representatives from KRA, Taxpayers’ association(s), Accountants, Finance Professionals, Auditors, Chief Finance officers, Academia.
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 5 CPD Units upon successfully attending the session.
Cost:
| Category | Physical | Virtual |
| Associates | Â Kes.5,500.00 – per delegate | Kes. 5,000.00 – per delegate |
| Members | Â Kes.5,500.00 – per delegate | Â Kes. 5,000.00 – per delegate |
| Non-members | Â Kes.5,500.00 per delegate | Â Kes.5,000.00 – per delegate |
Online Booking:
We call on Seminar participants to note that booking is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory.  This is available either online at www.icpak.com/events  or on the ICPAK Live – A smart phone-based application that is available from google store.
National Industrial Training Authority (NITA) Reimbursement:
The Institute is registered as a trainer with the National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
Further requests can be channeled to us via telephone calls on +254 719 074 000, or via email to marketing@icpak.com
To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
