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THE SIGNING OF THE EXCHANGE OF NOTES FOR THE MOMBASA GATE BRIDGE CONSTRUCTION PROJECT (I), THE MOMBASA SPECIAL ECONOMIC ZONE DEVELOPMENT PROJECT (I) AND GRANT FOR INFRASTRUCTURE DEVELOPMENT IN MOMBASA SPECIAL ECONOMIC ZONE IN DONGO KUNDU AREA

 

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Nairobi, 20th September, 2019

 

 

 

Restoration of Kenya Water Towers

 

Nairobi, 18th September, 2019

 

National Treasury Principal Secretary today held discussions on restoration of the country`s water towers with the EU Ambassador H.E (AMB) Simon Mordue.

 

Mr. Mordue said that the EU will continue supporting the Kenyan Government in its quest for lasting solutions in the restoration of the towers.

 

COMMENTS ON THE DRAFT 2019 BUDGET REVIEW AND OUTLOOK PAPER FOR THE MTEF FY 2020/21 – 2022/23 BUDGET

 

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Nairobi, 17th September, 2019

 

The Budget Review and Outlook Paper (BROP) is prepared in accordance with Section 26 of the Public Finance Management (PFM) Act, 2012 that requires its submission to Cabinet for approval by 30th September in each financial year. The approved BROP will subsequently be submitted to Parliament. In order to finalize the document, the National Treasury is expected by the provisions of the PFM Act to seek views from the institutions listed in the PFM Act, the public and any other interested persons or groups as specified in the relevant sections of the Act. In particular, the National Treasury is required to seek views of the following:

 

CS Statement on Division of Revenue Bill 2019

 

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Nairobi, 17th September, 2019

 

Press Release by Hon (Amb.) Ukur Yatani,
Ag. Cabinet Secretary / National Treasury and Planning
Following the Assent by HE the President of the Division of Revenue Bill, 2019


1. The National Treasury commends Parliament -- the Senate and the National Assembly -- for approving the Division of Revenue Bill (DoRB), 2019. The Bill allocates Ksh 378.1 billion to County Governments for FY 2019/20, of which Ksh 316.5 (or 84 percent) is the equitable share of revenue raised nationally, while Ksh. 61.6 billion (or 16 percent) comprise of conditional allocations to counties. It should be noted that the total allocation to counties for FY 2019/20 is 36.4 percent of the last audited shareable revenue.

 

 

CS Yatani holds discussions with EU delegation

 

Nairobi, 13th September, 2019 

 

 

The National Treasury and Planning Ag. Cabinet Secretary, Amb. Ukur Yatani held a discussion on Development Cooperation with a European Union delegation led by. Ms. Sandra Kramer, Director, West and East Africa at the Treasury Building.

 

 

British High Commissioner visits CS Yatani

 

Nairobi, 13th September, 2019

 

 

The National Treasury and Planning Ag. Cabinet Secretary, Amb. Ukur Yatani held a discussion on Development Cooperation with a British Delegation led by H.E. Ms. Jane Marriotte, British high Commissioner to Kenya at the Treasury Building.

 

 

Launch of the FY 2020/21 and the Medium-Term Budget Preparation Process

 

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Nairobi, 12th September, 2019

 

 

The National Treasury and Planning Ag. Cabinet Secretary, Amb. Ukur Yatani was the Chief Guest during the Launch of FY 2020/21 and Medium -Term Budget preparation Process at the KICC.

 

DRAFT PROCEEDS OF CRIME AND ANTI-MONEY LAUNDERING (CRIMINAL ASSETS RECOVERY FUND) (ADMINISTRATION) REGULATIONS, 2019

 

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Nairobi, 10th September, 2019

 

Section 4 (a) of the Statutory Instrument Act, 2013 provides that “the object of this Act is to provide a comprehensive regime for the making, scrutiny, publication and operation of statutory instruments by requiring regulation-making authorities to undertake appropriate consultation before making statutory instruments”. In addition, Section 5 (3) of the Statutory Instrument Act, 2013 states that “without limiting by implication the form that consultation referred to in subsection (1) might take, the consultation shall—

 

CS calls on multi-agency team at the Port of Mombasa

 

Mombasa, 6th September, 2019

 

Acting National Treasury Cabinet Secretary Ukur Yatani has called on Government multi-agency team working at the Port of Mombasa to work closely with all stakeholders operating from the port to swiftly address bottlenecks that impede clearance of goods.


He said that while the Mombasa port was a premier port in the East African Region and has even higher potential to generate more revenue for the government, unnecessary bureaucracy should be done away with.

 

PUBLIC FINANCE MANAGEMENT (SOCIAL ASSISTANCE FUND) REGULATIONS, 2019

 

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Nairobi, 2nd September, 2019

 

Section 4 (a) of the Statutory Instrument Act, 2013 provides that “the object of this Act is to provide a comprehensive regime for the making, scrutiny, publication and operation of statutory instruments by requiring regulation-making authorities to undertake appropriate consultation before making statutory instruments”. In addition, Section 5 (3) of the Statutory Instrument Act, 2013 states that “without limiting by implication the form that consultation referred to in subsection (1) might take, the consultation shall—

 

The Government recognized that the Budget Rationalization Programme could not by itself achieve the higher level of strategic investment planning. The strategic investment planning was expected to be the basis of the forward and Annual Budget exercises. GoK therefore introduced the Public Investment Programme (PIP). The main rationale for introducing the PIP was to strengthen the forward budget by providing a more comprehensive instrument for planning and prioritization of public expenditures.
PIP had six major objectives which were:
  Strengthen the project cycle, namely the identification, design, appraisal, implementation, monitoring and evaluation of projects;It was to become an instrument of economic management used to monitor public sector capital formation targets, and to ensure that sectoral strategies are translated into projects and programmes;Become a tool for better aid coordination to assist in the matching of Government investment needs with donor financing opportunities Strengthen overall public expenditure management by sharpening departmental priorities, improving the phasing of projects and relating their total implementation costs and subsequent operating costs to recurrent and development ceilings Be used to monitor the investment plans of state corporations that may directly or indirectly impinge on the government finances and
   To allow accurate forecasting of future recurrent expenditure demands on financial resources. Development partners played a key role in the introduction of the PIP as they also provided technical assistance for the implementation and institutionalisation of the exercise into the budgeting process. By 1994 some progress had been made as the PIP was now being coordinated by the Ministry of Planning and National Development and the annual timetable had incorporated PIP as a key input to the annual budget and in this way it was able to influence the budget exercise. However despite all these improvements the major weaknesses in budgeting for capital investments continued as the completion rate of programmes was as low as 3%. Many projects had stalled some as complete as 90% and this applied not only to government funded projects but also to donor funded programmes. These projects had also generated pending bills whose deficit on a commitment basis had gone up as the hard budget constraint translated into informal funding.

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