The 2022/2023 Kenyan budget was read in parliament on 7th April 2022. This was a departure from previous years where the budget statement would be tabled in parliament in the month of June.
This was necessitated by the coming general elections scheduled for the 9th of August 2022. The theme of this year’s budget is “accelerating economic recovery for improved livelihood”.
Despite the economic disruption caused by the covid pandemic and the ongoing war in Europe, the government projects the country’s economic growth to stabilize at 6% a slight recovery from the 5% posted in the year 2021.
This year’s budget of KES 3.3 trillion is an increase from the 3.1 trillion budget for the year 2021. In order to raise the proposed revenues to finance the various programs, the government through the Finance Bill 2022 proposed various tax measures outlined in detail hereunder.