Ndindi Nyoro: Kenyans must bite the bullet to finance budget

National Assembly Budget and Appropriations Committee Chairman Ndindi Nyoro. [David Njaaga,Standard]

The National Assembly Budget and Appropriations Committee Chairman Ndindi Nyoro says Kenyans must be ready to brave tough decisions by the government in order to accommodate the proposed 2023/2024 Fiscal Year budget.

The Member of Parliament was speaking on the first day of a three-day public hearing on the proposed 2023/2024 Financial Year and Medium Term period Budget at the Kenyatta International Convention Centre (KICC) on Wednesday.

Nyoro said his office will propose increasing this year's budget to over Sh2 trillion, primarily through direct taxes.

 “On the revenue side, what fills our basket is direct taxes and we are proposing in the current financial year budget to raise around Sh2.14 trillion. We project the figure could even go higher,” Nyoro said. 

Further, he exuded confidence that, despite the country's difficult economic circumstances, it was still possible to make ends meet.

“If we are to use the country’s GDP as a measure, we only need to become more innovative so that we can collect more because the opportunity is there,” he said.

Treasury, the organiser of the meeting, is expected to make presentations on agriculture, health, education, energy, infrastructure and ICT, governance, law, justice and order social protection, public administration and environment, protection, water and natural resources sector.

The first budget of President William Ruto has been set at Sh3.64 trillion, and the President has already announced austerity plans in his efforts to create jobs for Kenyans.

The majority of Ruto's initiatives are aimed at hastening economic recovery and lowering the high cost of living.

Ruto has been putting pressure on the Kenya Revenue Authority to collect taxes more aggressively.

Revenues are expected to increase to Sh2.9 trillion compared to Sh2.82 trillion given in the 2022 Budget Policy Statement.

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