President Ruto Signs Supplementary Budget
President William Ruto on Monday Signed a supplementary budget.
The budget will see more than Sh60 Billion provided for pending bills by the Government in its ambitious plan to tackle the sticky issue in the country.
Speaking when he assented to the Supplementary Appropriation Bill (National Assembly Bill No. 4 of 2023) on Monday at State House, President William Ruto said the move will ensure uninterrupted delivery of services to the people.
The Bill gives authority for the issuance of Sh200.7 Billion out of the Consolidated Fund and applies it towards the supply granted for the service of the year ending this June.
It includes provisions for capitation for students entering junior secondary school, recruitment of additional teachers and improvement of school infrastructure, and additional provisions for school feeding.
According to the Bill, the recruitment of additional teachers will absorb Sh6 Billion, school feeding under National Council for Nomadic Education Sh2 Billion, drought mitigation Sh10 Billion, fertiliser subsidy Sh15 Billion and Sh20 Billion for the Hustler Fund.
The President said the country's food security requires long-term and sustainable solutions.
"That is why the supplementary estimates have funded a wide range of interventions such as the expansion of irrigation systems," he said.
Present in the ceremony were Attorney General Justin Muturi, Speaker of the National Assembly Moses Wetang'ula, National Assembly Majority Leader Kimani Ichungw'ah and Kiharu MP Ndindi Nyoro, who is also the Chairperson of the Budget and Appropriations Committee.
The President noted that the Bill has reduced the supply by Sh143.7 Billion to the various votes, which will play a critical role in stimulating economic performance.
In what signals the Government's commitment to debt reduction through expenditure rationalization, the fiscal deficit has decreased from 6.2 per cent of the Gross Domestic Product (GDP) in initial estimates to 5.7 per cent of GDP.©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.