Launch of Budget Sector Public Hearings
This morning, the National Treasury and Economic Planning Cabinet Secretary, Prof. Njuguna Ndung’u officially opened the 2023/24-2025/2026 Medium Term Expenditure Framework (MTEF) Budget- Public Sector Hearings at the KICC Nairobi.
The launched Public Hearings will take place from today 11th to 13th January 2023, at the same venue starting 8.30am daily.
In his address, the CS reiterated that Public Participation is very crucial in the budget process as enshrined as a statutory requirement in the Constitution of Kenya 2010.
The Public Participation will create ownership of the process, ease the challenges encountered in the sector preparations, minimize wastage of resources, help to prioritize on budget items and address appropriate solutions.
Prof. Ndung’u also cautioned that the year 2023 might be tough unless clear interventions on the economies are injected early enough to address global economic problems caused by happenings like; the Russia-Ukraine war, the World economic collapse caused by the Corona Virus Pandemic and the Deteriorating Situation caused by the effects of Climate Change on human health and development among others.
The CS noted that there is an upward surge on food prices caused by low food production, depreciation of the exchange rates affecting imports and exports resulting to increased poverty levels and social conflicts.
In addition, the CS has noted that the 2023/24 budget is being prepared under these severe scenarios where even the Global Growth is being projected by IMF to be on a lower trend compared to previous years.
He asked all the Stakeholders to keenly scrutinize the Budget proposals from all Sectors, point out areas of improvements and give ideas that will contribute to strong growth of the economy and help reduce poverty.
Present during the official opening was the Chairman of the Budget and Appropriations Committee, Hon. Ndindi Nyoro, National Treasury Principal Secretary, Dr. Chris Kiptoo, Economic Planning Principal Secretary, Mr. James Muhati, various Principal Secretaries from other State Departments, CEOs from SAGAs, Development Partners and other invited dignitaries.