Kenya has not matured enough to a point of sustaining a Sh3 trillion budget, Raila Odinga Junior has said.
In a tweet on Thursday, Raila Junior advised the government to stick within the targets of the Kenya Revenue Authority (KRA).
He opined that the budget should lie between Sh1.9 and Sh2.2 trillion. He noted that Kenya has a huge debt burden and the increased cost of living is a clear example that all is not well.
Junior, who is the son of the Former Prime Minister Raila Odinga Amolo, also said that foreign debts are likely to throw the nation into an economic crisis unless something is done in time.
“Is it possible for GOK to budget within KRA targets that is between (1.9T -2.2T) instead of a 3T budget that ends up getting financed externally? I mean, cut on expenditure, reduce borrowings and mitigate our external debt?” tweeted on Thursday.
Treasury Cabinet Secretary Henry Rotich tabled the new financial year plan on Thursday afternoon. The budget goes into history as the biggest expenditure plan Kenya has had since independence.
The funds will be allocated to various agencies, departments, the Judiciary, the Parliament and the 47 counties. The balance has been set aside for the Consolidated Fund Services (CFS).