Budget highlights 2023/24
The ministry of Education is one of the biggest beneficiaries in this year’s budget, receiving the lion’s share of funds allocated to ministries, departments and state agencies.
A document on the budget highlights released by the National Treasury shows that the ministry of education will receive about Sh630 billion in the 2023/24 Financial Year, making it one of the best earners of funds from the national government.
The funds, according to the highlights, represents about 27.4% of the entire budget and will be used to promote shared prosperity, by providing accessible and quality education to all Kenyans.
The junior secondary school capitation has also been increased to Sh25.5 billion from Sh15 billion, according to Treasury, with some Sh5 billion allocated to the School Feeding Programme.
This is also the same case with allocations to the Higher Education Loans Board, HELB, whose allocation has also been doubled from Sh15 billion to Sh30 billion.
Another Sh141 billion has also been allocated to national government health services, with additional funds allocated to counties.
The ministry of roads and infrastructure on the other hand, has been given some Sh250 billion towards the construction of roads and the completion of stalled and ongoing projects.
A further Sh3 billion has also been allocated to complete the construction of 181 stalled markets that were initiated in 2008.
Similarly, some Sh5 billion has also been allocated to the ministry of agriculture for the Fertiliser Subsidy Program, with another Sh25 billion allocated to the ministry of energy for the clearance of arrears for unpaid oil subsidies.
County governments will also receive Sh4.7 billion as conditional grants to establish 47 aggregation and industrial parks in each county.
An extra Sh3 billion allocated for 6 EPZ Industrial Parks. This, the Treasury says, will help stimulate job creation, decrease post-harvest losses, enhance processing, marketing, and distribution of agricultural products.
Other allocations also include funds allocated to hire 20,000 teachers and more TVET trainers, funds allocated to operationalize 21 KMTC campuses and hire additional lecturers and staff as well as funds to double the number of interns employed by the PSC, from 4,000 to 8,000, each earning a monthly salary of Sh25,000.
The Hustler Fund will on the other hand, receive an additional Sh10 billion to support entrepreneurial endeavors.
“Most allocations are strategically aligned with identified value chains to facilitate efficient distribution and utilization of resources. The value chains include leather, livestock (Dairy & Pastoralist economy), apparels and textiles, crops (Edible oils, rice, tea & coffee), blue economy, mining and industrial production (construction and building materials),” says the National Treasury.
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