This archive report was first published on 11 June 2020.
On June 11, 2020, the National Treasury unveiled a budget aimed at kickstarting the economy's recovery from the devastating effects of the Covid-19 pandemic.
With the global economy projected to contract by six percent, the Kenyan government sought to inject more cash into the economy to stimulate consumption and business growth.
According to Cabinet Secretary Ukur Yatani, the economy is expected to grow at 2.5 percent this year, a significant drop from the initial projection of 5.4 percent.
The budget focuses on increasing liquidity in the market, cushioning the poor, enhancing security, and facilitating business growth.
However, the government faces a significant challenge in managing the country's soaring debts, with a total budget of Sh2.79 trillion and a projected deficit of Sh840.6 billion.
Mr. Yatani proposed an audit of capital projects funded by borrowed funds to determine their viability and renegotiate with donors to redirect funds to promising projects.
The Treasury also plans to tighten financial management, seal loopholes for corruption and wastefulness, and up the budgets for investigative authorities to intensify the campaign against graft.
