THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
ANNUAL BUDGET REVIEW WEBINAR
DATE: 13th & 15th June 2020
TIME: 09.00-13.00 hrs (Daily)
The Cabinet Secretary for the National Treasury and Planning, Hon. (Amb.) Ukur Yatani, EGH will be delivering the Budget Statement for the FY 2020/2021 to Parliament on 11th June 2020. The 2020/2021 budget comes at a time when the world economy at its weakest as a result of the unprecedented global challenge of Covid -19. Consequently, he projected gross domestic product for the year 2020 is expected to decelerate substantially locally and internationally. The National Treasury has projected government expenditure at KShs 2.91 trillion for the financial year 2020/2021. This is a slight decrease from the supplementary budget approved in December 2019 of KShs 3 trillion. To finance the budget, the National Treasury projects domestic revenue collection of Ksh. 2.1 trillion while the rest will be funded from grants and borrowings. This is likely to translate to tighter measures by the tax authority in pursuit of the set target given the many incentives to revive the economy extended by the government to jumpstart the economy.