Treasury to start budget making process earlier

Treasury plans to hasten the 2022/23 budget-making process due to the general elections scheduled for next year -2022.

Treasury Cabinet Secretary Ukur Yatani, has said there is a need to speed up the budget-making process to ensure uninterrupted government operations. 

Yatani says the process will begin in August as opposed to September to ensure the Finance Bill 2022 is enacted before parliament is dissolved. 

Under the new arrangements, preparation of the Finance Bill 2022 will begin in August 2021 followed by submission of the document to parliament for debate in January 2022. 

So far the National Treasury has invited State Departments and Agencies, the private sector, and individuals to submit proposals on the 2022/23 fiscal year budget. 

Treasury has said proposals submitted must be aligned with efforts to support the economy in weathering with the economic impacts of COVID-19 pandemic.

To facilitate timely consultations and adequate consideration, the notice says proposals should be forwarded to Treasury before 30th August 2021.

The submissions must suggest changes to the law on the issue to be addressed and why the amendment is necessary according to a statement by the national treasury

  

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