Home ECONOMY Exchequer releases in First Quarter up 33pc

Exchequer releases in First Quarter up 33pc

by biasharadigest
Economy

Exchequer releases in First Quarter up 33pc

The National Treasury building in Nairobi
The National Treasury building in Nairobi. FILE PHOTO | NMG 

The cash released to ministries, departments, agencies and counties in the first quarter of 2019/20 grew by 33 percent despite the crippling rivalry between the Senate and National Assembly that delayed disbursements.

The Controller of the Budget report shows a total of Sh571.1 billion was released by the National Treasury in the three months to September, representing 22 per cent of the annual net estimated issues for the year set at Sh2.6 trillion. That level of disbursement also represents increase of 33.3 per cent (Sh142.6 billion) over a similar period of 2018/19 when the Exchequer issues stood at Sh428.5 billion.

The Exchequer issues comprised Sh48 billion for development expenditure, Sh230.6 billion towards MDAs recurrent expenditure, Sh237.4 billion towards Consolidated Fund Services (CFS) and Sh55.1 billion to country governments as sharable revenue from the National Government. At the start of the financial year, the Senate and National Assembly locked horns over Division of Revenue Bill, delaying Exchequer disbursements by several weeks.

Spending by the national government in the first three months of the year amounted to Sh564.2 billion, representing 20.6 percent of the annual gross estimates.

During the period under review, actual receipts into the finance ministry’s account amounted to Sh637.4 billion, representing 24.5 percent of the annual receipt target.

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