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Highlights of the FY 21/22 National Budget and the Finance Bill 2021

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Highlights of the FY 21/22 National Budget and the Finance Bill 2021

Posted by: Octaviah Wachira
Category: Latest Posts, PFM Briefs

The overall budget for FY 2021/22 is estimated at Kshs. 3.66 Trillion. The budget for the three arms of Government is estimated at; The Executive (Kshs. 1,895.14 Billion), Parliament (Kshs. 46.61 Billion) and the Judiciary (Kshs.17.92 Billion). On tax performance, the National Treasury has consistently set overambitious revenue targets during the budget making process. Actual tax revenue collection in 2019/20 was Ksh. 1,584 billion against the printed estimates target of Ksh. 1,758
billion. The National Treasury projects a total revenue collection of Ksh. 2,039 billion (16.4% of GDP) in 2021/22 of which, ordinary revenue will be Ksh. 1,776 billion (14.3% of GDP)