The National Treasury will deliver the first Kenya Kwanza Budget Statement for the Financial Year 2023-2024 at 3 pm.

“This is to notify the general public that the Budget Statement for the FY 2023/24 will be delivered by the Cabinet Secretary for the National Treasury and Economic Planning on Thursday, 15th June 2023 from 3:00 p.m. in Parliament,” Treasury CS Ndung’u said in a notice dated May 16.

President William Ruto’s administration has proposed a Kes3.6 trillion for the Financial Year 2023/2024 with a Kes700 billion deficit to be financed through borrowing.

From the FY 2022–23 budget, which was set at Kes3.39 trillion, the new budget will represent a rise of Kes251 billion.

In addition to Kes 769.3 billion for development, the government intends to spend  2.5 trillion on ongoing costs.

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The national government would receive Kes2.25 trillion, with devolved entities receiving an allocation of Kes 385 billion, according to the Budget Policy Statement submitted by Ndindi Nyoro, the House Budget and Appropriations Committee chairperson.