Financial Year (FY) 2024/25 and the Medium-Term Budget will be centred on implementing the Bottom-up Economic Transformation Agenda, focused towards economic turnaround inclusive growth and higher investments, according to Ministry of Treasury and Economic Planning CS Prof. Njuguna Ndung’u.
According to the CS, five sectors having a significant potential to affect the economy would be given priority. MDAs will be expected to direct funds towards the BETA priority areas while creating the FY 2024/25 and the Medium-Term Budget.
The sectors of leather, cotton, dairy, edible oils, tea, rice, blue economy, natural resources, and building materials are the nine value chain industries that will be specifically addressed.
Although the economy is expected to grow in the FY2024/25 and the Medium-Term Budget, he noted, the global situation is still restrained.
Additionally, CS stated that the FY 2024–25 and the Medium-Term Budget will be based on the Vision 2030 Fourth Medium-Term Plan and will continue to build on the advancements made in the prior fiscal years.
The CS reported that Treasury paid the Counties KSh. 399.6 billion in the most recent Financial Year, including KSh. 29.6 billion in arrears that were carried over from the previous year.
According to Prof. Ndung’u, Treasury has already disbursed KSh 279.6 billion Exchequer for FY2023/24 to ensure the successful execution of planned initiatives.
The CS reiterated Government’s commitment to address the policy, legal, regulatory, and governance issues as a matter of priority to ensure optimal use of resources in execution of the planned interventions.
