President Ruto assents to finance 2023 and appropriation bill 2023.
A report from the state house of Kenya, This morning, President Ruto assents to finance 2023 and appropriation bill 2023.
This he did in the presence of Deputy President Rigathi Gachagua, Prime Cabinet Secretary Musalia Mudavadi, Speaker of the National Assembly Moses Wetang’ula, Speaker of the Senate Amason Kingi, Attorney General Justin Muturi and a host of members of parliament led by Majority leader Kimani Ichung’wah.
The head of state also approved the Supplementary Appropriations (No. 2) Bill, 2023 warranting the additional spending by the National Government of Sh22.9 Billion from the Consolidated Fund.
As a result, This will lead into the reduction of overall expenditure by Sh25.5 Billion compared to the revised total National Government expenditure approved in the Supplementary Appropriations (No. 1), Act 2023.
The reduction consists of an increase in recurrent amounting to Sh9.5 Billion and rationalisation of development spending by Sh35 Billion.
According to the government, the scaling down in spending is in line with the Government’s fiscal consolidation efforts in the light of debt servicing payments.
The Appropriations Bill, 2023, allows for the withdrawal of money from the Consolidated Fund for the expenditure of the National Government.
This is the first Appropriations Bill under the Kenya Kwanza Government and, therefore, seeks to align its Manifesto and promises through assignment of actual resources to meet various services and projects.
Notably, The president talked of quality Universal Health Coverage. Where he will be supporting county governments by providing modern equipment to help them deliver a high standard of healthcare for all.