Browsing: 2020/2021 budget

NAIROBI, Kenya, Jun 12- Kenya on Thursday announced its biggest budget yet, a whopping Sh3.6 trillion spending plan for the financial year 2021-2022. 

The country’s minister for treasury Ukur Yatani read the budget in the parliament building, determining how the Jubilee government would be spending money even as the end of its ruling term nears.

Notably, a lionshare of the budget went to funding President Uhuru Kenyatta’s ambitious Big 4 Agenda at Sh142.1 billion.

Yatani said the monies would be spent on priority programs which are; offering food security, affordable housing, affordable healthcare, and manufacturing.

The Cabinet Secretary said the amount will be spent for both enablers and drivers’ of the projects, during the 2021-22 financial year.

A breakdown 

A total of Sh60 billion was set aside to support relevant programs that will enhance food security in the country.

Of the amount, Sh7 billion will be channeled to national agricultural …

Uganda has set aside money in its $43 trillion budget for the 2020/2021 financial year to help revive small and medium businesses that have been affected by the COVID-19 pandemic.

Uganda’s government allocated $88.4 billion as credit through Saccos and microfinance to help small and medium businesses.

Uganda’s minister of finance Matia Kasaija, said since the sector accounts for 85 per cent of private employment, the credit was significant.

Uganda Development Bank was also given $98 billion to enable businesses mostly large scale private firms and manufacturers to borrow at low-interest rates.

The government Uganda also said they would urgently pay arrears it owed the private sector through returns from Value Added Tax (VAT).

“To address emergencies on liquidity and other financial constraints suffered by government suppliers, the government will pay arrears of $633.4 billion commencing July 2020. Priority will be small and medium enterprises,” said Mr Kasaija.

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