MEMO-OKOA UCHUMI ANALYSIS OF FINANCE BILL 2024-28th-May – 2024/25 FY and the Finance Bill of 2024
We, the Okoa Uchumi Campaign partners and citizens from different parts of Kenya dedicated to strengthening public participation and social accountability in the public debt process are deeply concerned by the Government’s recently released estimated budget for the 2024/25 FY and the Finance Bill of 2024.
Contrary to constitutional provisions, the National Assembly is considering the Finance Bill, 2024 before approving the Appropriations Act 2024, which is unlawful. The Finance Bill 2024 is based on the FY 2024/2025 budget estimates submitted on April 30, 2024. The Finance Act and Appropriation Act are interdependent, with the former generating resources and the latter detailing expenditure. Section 39 (4)(a) of the Public Finance Management Act mandates that revenue raised must align with the approved fiscal framework. Enacting the Finance Act 2024 before the Appropriations Act 2024 constitutes a fraudulent scheme of mismanaging taxpayer funds.
