Thursday August 27, 2020 – Treasury CS, Ukur Yattani, has revealed that Kenya has lost Ksh172 billion in a period of four months.
Speaking during the National Assembly Leadership Retreat at Ole Sereni Hotel, Nairobi, on Wednesday, Yattani explained that the money had been lost after the Government decided to sacrifice some taxes to help cushion Kenyans.
“As a way of cushioning our economy, we had to forego Ksh172 billion in form of taxes.”
“This means that we have to adjust our budget while containing our spending,” he spoke.
However, he expressed optimism that the economy was performing better than expected at 4.6% and will recover.
The news was received well by the National Assembly leadership among them Speaker Justin Muturi.
“We are encouraged by the positive outlook of the economy that CS Yattani has presented to us, amidst the global economic disruptions occasioned by the pandemic.”
“We have underscored to him the need to realise value for money from all Government appropriations,” Speaker Muturi praised.
The CS also explained that the shilling had performed fairly well.
The Government had expected that by now the shilling would be at Ksh120 against the dollar as a result of the pandemic, but has managed to stay below Ksh110 since the pandemic began.
The Kenyan DAILY POST