Key State policy priorities and strategies to boost economic recovery
By Boaz Lawin Musina
| Apr 17th 2022 | 2 min read
In his Budget Statement for the 2022-23 financial year, National Treasury Cabinet Secretary Ukur Yatani said the State aims to improve economic recovery and impact livelihoods by focusing on several key areas. These include:
The government aims to provide a secure environment to protect citizens, their property and, create a conducive business environment that attracts investors to the country. The State purposes to increase revenue allocation to both the National Police and the Ministry of Defence to ensure sustainable security systems.
Investing in security will create a conducive business environment for local and foreign investors. This is critical especially as we head to the August 9 polls.
Development of critical infrastructure
Road, rail, water and energy are the key infrastructural sectors the State seeks to improve in the financial year. These are essential for economic development since they ease the movement of people, goods and services, and support industrial development. They also reduce the cost of doing business, improve the quality of life for citizens and Kenya's competitiveness.
The State also eyes more public-private partnerships.
Transformation of key economic sectors
CS Yatani stressed the desire to accelerate agricultural productivity, support manufacturing, improve environmental conservation and water supply, enhance recovery of the tourism sector, and enhance proper usage and management of land. Agriculture and manufacturing are part of the Big Four and addressing these key sectors will lead to increased economic productivity.
Expand access to quality social services
Investment in health, education, and other social amenities is one of the priorities the government has invested in to enhance economic recovery. The education sector has been allocated Sh544.4 billion to support programmes such as free primary and secondary education, recruitment of teachers, NHIF cover for students and training of teachers.
The health sector has been allocated Sh146.8 billion to address universal health coverage, purchase of vaccines, free maternity care and medical equipment.
Youth, women, and persons with disabilities
The role of the youth and women is critical in economic recovery. The government has significantly increased revenue allocation to the National Youth Service, Kenya Youth Empowerment and Opportunities Project, Youth Enterprise Development Fund, and the Youth Employment and Enterprise Fund.
- The writer is a senior tax advisor at EY. The views expressed herein are not necessarily those of EY.
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