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Big Blow to Counties After IBEC Cuts Expected Share to 370B

The Inter-governmental Budget and Economic council has approved ksh. 370 billion for counties, rather than the proposed ksh. 751.45 billion, for the 2022-2023 financial year.

The council, chaired by Deputy President William Ruto has instead supported the recommendation by the commission of the revenue allocation and National Treasury to have the monies capped at 370 billions as financial of 2021/2022 citing public debt and covid 19 situation.

"After discussion and considering many factors including our debt level and other alternative measures of raising revenue are not tenable, the council with the concurrence of council of governors have approved last year level of 370 billion be the amount due to counties" Ruto told news conference after the meeting.

The council of Governorsovernors had the proposal of having the monies to counties capped at ksh.751.45 billion and backed the proposal on constitution of Kenya ( Amendment) Bill, 2020 commonly know as the Building Bridges Intiative Bill

Content created and supplied by: Watchtower.com.ac.ke (via Opera News )

Budget Building Bridges Intiative IBEC Ruto William Ruto

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