Wednesday, October 28, 2020
Business

Excheque coffers billions to combat pandemic

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In an effort to continue the fight against the COVID-19, Kenya has mobilised Sh134 billion to be used to purchase consignments and other necessities needed to combat the pandemic.

National Treasury PS Julius Muia confirmed that Sh82 billion has been released for the immediate needs identified by ministries that are at the forefront in fighting the pandemic. The money was received from the Exchequer.

During a national Covid-19 conference at KICC, the treasury said:

“We were able to disburse Sh82 billion divided into two main elements. Sh53 billion directly for Covid-19 related expenditure and Sh29 billion used for budget support.”

According to the treasury, the country experienced an unprecedented decline in revenue which called for allocation of budget support. The expenditure was due to the floods and locust infestations which the country experienced towards the end of December.

The treasury explained that the department would continue to source out funds for critical situations affected by the COVID-19 crisis.

“For us in Treasury, we made sure that we only made money available when there is a convincing case,” said Muia. The treasury stressed this out after there were demands for transparency on the funds expenditure due to rising theft claims.

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