President Uhuru Kenyatta on Tuesday October 23, 2018 signed into law the Supplementary Appropriation Bill No. 2 of 2018, entrenching austerity measures that will guide Government expenditure for the financial year ending 30th June 2019.
PRESIDENT KENYATTA signs into law Sh47.25bn supplementary budget with lion share of funds, Sh21bn, allocated for affordable housing. pic.twitter.com/uzBcpvYQJX
— NationBreakingNews (@NationBreaking) October 23, 2018
The law mandates the National Treasury to issue Shs 47,254,066,048 from the Consolidated Fund for the provision of various public services.
The allocations in the new law reflect a significant reduction from what was allocated in the last financial year which is in line with the ongoing austerity measures aimed at cutting down Government expenditure.
The State Department of Housing which is steering the affordable housing pillar of the Big 4 development agenda is one of the key beneficiaries of the new law having been allocated Shs 21 billion.
The State Department of Public Works and the Judiciary were allocated Shs 1.9 billion and Shs 1.5 billion respectively.
The Bill signed by President Kenyatta at State House, Nairobi also allocates Shs 2 billion to the State Department of Tourism for promotion programmes while the State Department of Wildlife has been assigned Shs 873 million among others.
The Bill was presented to President Kenyatta for signing by National Assembly Speaker Justin Muturi.