Saturday 22 January 2022
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Report: Treasury hid deficit in false figures.

The National Treasury is hiding Kenya’s true budget deficit by using wrong figures, this is according to the the Parliamentary Budget Office (PBO). The Budget Office, which is funded by the taxpayer to provide professional services to Members of Parliament, says Treasury is masking the true deficit by using a set of numbers that ignores adjustments. The office also accused Treasury of overshooting the budget ceiling given by Parliament and approved through its own Budget Policy Statement (BPS), which is prepared months in advance. The PBO says the 2019/2020 budget is higher than the approved ceiling by Sh78 billion. The report, “Unpacking the Estimates of Revenue and Expenditure for 2019/20 and the Medium Term”, is prepared for legislators to guide them in deliberations over the next budget cycle that starts on July 1.

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