Key Highlights of Ruto's First Budget Statement

National Treasury Cabinet Secretary Njuguna Ndung'u is set to read the 2023/2024 budget statement. 

This year's total budget amounts to Sh3.6 trillion, which is more than the Sh3.31 trillion from the prior year. Education has been allocated Sh630 billion (27.4% of the budget), meant to promote equal opportunity for all Kenyans through quality education. Junior Secondary School capitation has increased to Sh25.5 billion from Sh15 billion, and the Higher Education Loans Board (HELB) has seen a double allocation of Sh30 billion from the previous Sh15 billion. Additionally, Sh141 billion is allocated to National Government health services, and additional funds are given to counties.

The government has set aside Sh250 billion for roadworks, including the finishing of projects that are in progress and those that have stalled. An additional Sh5 billion is set aside for the Fertiliser Subsidy Program, which is touted to increase food production. Unpaid subsidies from the prior administration have been assigned Sh25 billion, with Sh3 billion assigned to finish the construction of 181 stalled markets that were started in 2008. The government has allocated Sh4.7 billion to counties as conditional grants to build 47 processing and industrial parks.

The government has taken steps to boost employment and help cut down post-harvest losses by investing Sh3 billion into six EPZ Industrial Parks. The Hustler Fund has been granted an additional Sh10 billion to fund business ventures. The government has also allocated funds to hire 20,000 teachers and more TVET trainers.