Government allocates 56.6 Billion to facilitate post-Covid recovery strategies
The National Treasury has allocated a total of 56.6 billion has to facilitate the post Covid recovery strategies.
Other post covid recovery strategies include releasing VAT refunds to assist businesses with managing their cash flow; Encouraging banks to give concessionary loans at low rates to facilitate businesses, as well provide moratoriums on loans that are due.
While tabling the 2.7 trillion 2020/2021 budget in parliament on Thursday, National Treasury CS. Ukur Yatani also proposed to exempt maize and corn seeds from tax to make them available to farmers.
“I propose to exempt maize or corn seeds from tax to make them available to farmers” he said
CS Yatani’s first Budget came under the spotlight on how he would balance the bigger budget against shrinking revenues as businesses shut down, workers lose jobs or face pay cuts and exports decline on supply chain interruptions.
Yatani further said that the government will clear all pension payments backlog by the end of the calendar year, Treasury CS Ukur Yatani has said. CS Yatani said the government is re-engineering and upgrading the pension system.
“The National Treasury is re-engineering and upgrading the pension system to clear all pension payments. This will guarantee smooth transition of retirees from a monthly salary to monthly pension payment,” he said
in the 2020/2021 budget, the Government also allocated Sh82.7 billion to support environment and water conservation and Sh52.8 billion for food and nutritional security
A total of Sh.111.7 billion was also allocated to the health sector for the 2020-21 financial year.
Yatani said out of the amount, some Sh50.3 billion will caters for the enablers and drivers of the Universal Health Care.
In his Sh2.79 trillion budget, Yatani also allocated Sh98.2 billion to cater for the lowering of HIV/Aids transmission, malaria and TB treatment.
“Mr Speaker we have set aside Sh5.3 billion which will cater for the transformation of our health care systems and Sh4.1 billion for the Free Maternity Care program,” he said.
out of the cash, Sh15 billion will be channeled to Kenyatta National Hospital, Sh10 billion to MTRC, Sh7.2 billion to KMTC, Sh2.5 billion to Kemri and Sh2.1 billion to Mathari hospital.
Yatani said cumulatively the government has set aside Sh128.3 billion which will cater for the drivers and enablers of President Uhuru Kenyatta’s Big Four agenda.