kenya budget 2018 highlights are as follows. it has huge implications and Kenya budget pdf download can be got from here.
Hailed as the largest economy in the East African Community (EAC), Kenya has continued to demonstrate this with a budget dwarfing those of its neighbours. kenya budget 2018 is just insane
At Ksh3.07 trillion, Kenya’s budget is larger than those of Uganda, Tanzania and Rwanda combined.
KENYA BUDGET 2018 HIGHLIGHTS
- On affordable housing, Mr Rotich proposes to amend the Employment Act: Employers to contribute 7.5 per cent for housing while employees to give 0.5 per cent from their pay.Kenya budget 2018 highlights.
- On manufacturing, import duty on iron ore and steel, paper and paper products increased from 25 per cent to 35 per cent. The increase is meant to make local products more competitive.
- Treasury has allocated Sh3 billion for construction of affordable housing.
- Excise duty on private vehicles above 2500cc diesel and 3000cc petrol goes up from 20pc to 30pc to promote local assembly.
- Tax on mobile money transfer charges increases from 10pc to 12pc, proceeds to fund universal health care.Treasury has further allocated Sh2 billion for primary health care and Sh7 billion for cancer diagnosis equipment and Sh400 million for cancer institute.
- On education, technical education gets Sh16 billion to get more instructors and develop curriculum, Sh91 billion for universities. Sh2 billion has been allocated for school feeding programme and Sh5 billion to get more teachers in the basic education sector.
- On ICT, Sh11.9 billion for the digital literacy programme and Sh310 million for digital migration.
- To support for disadvantaged persons: Sh7.9 billion has been allocated for orphans, the elderly to get Sh17.3 billion.
- To support the youth, MSMEs to get more funding, Sh200 million to construct a sports academy.
- On anti-corruption drive, Sh36.8 billion will go to Parliament to play oversight. Sh2.9 billion for Ethics and Anti-Corruption Commission (EACC).
- New procurement regulations including common agency to guide procurement pricing, and the use of e-procurement platform. Procurement will also be tied to preference for Kenyan made goods.
- Casino license applicants to be properly vetted to counter money laundering.
- National toll fund to enhance growth of national roads. Several toll projects being developed in the roads sector
KENYA BUDGET 2018 IMPLICATION
Cost of unga, milk, drugs to go up in Kenya budget 2018.
Over half of the national government’s allocation will go towards financing the recurrent expenditure (61.01%).
Out of this, Sh416.86 billion will go towards paying salaries. The figure represents 32.42 per cent of national government’s total allocation.
Infrastructure will take the biggest chunk of the funds allocated for development (Sh112.99 billion). Transport will take Sh90.42 while energy will take Sh59.89 billion.
In total, development will take 38.99 per cent of the national government’s total allocation. kenya budget 2018 highlights in full.
KENYA BUDGET 2018 PDF DOWNLOAD