NAIROBI: The Eurobond, fiscal and monetary policies, revenue, expenditure, budget balance, financing items, Gross Domestic Product (GDP) and the Public Finance and Management Act 2012 are commonplace in Kenyan parlance today.
Our Constitution gives the following as principles of public finance: openness and accountability, including public participation in financial matters; public finance system promoting an equitable society, and in particular, fair share of the tax burden; equitable share of national revenue among national and county governments; and expenditure, promoting the equitable development of the country including by making special provision for marginalised groups and areas.