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East African Community Budgets At A Glance

East African Community member states on Thursday presented their 2015/ 2016 financial year budgets to the respective Parliaments.
11 Jun 2015 21:43
 

East African Community member states on Thursday presented their 2015/ 2016 financial year budgets to the respective Parliaments.

Uganda and Kenya had the largest ever budget to be presented to their parliament in the recent years.

Uganda\'s budget of twenty four trillion shillings is the largest to be drawn by President Museveni\'s administration since he took power in 1986.

Kenya\'s budget 2015/16 budget has increased by seventeen percent to reach the mark of over twenty billion dollars or two trillion Kenyan shillings according the country\'s National Treasury Secretary, Henry Rotich.

Tanzania on the other hand slashed its budget by over twenty percent compared to the allocations of 2014/2015 financial year.

While Uganda proposed to borrow internally to finance the bulk of what has been dubbed election year budget, Kenya says it intended to borrow internationally in order to bridge its 700 billion Kenyan shilling budget.

Kenya which has faced attacks by Al-Shabab terrorist plans to spend more on security this time around. Other priority areas for Kenya include tourism, road construction, and the standard gauge railway and irrigation infrastructure among others. It also plans to spend to boost education sector with free laptop computers.

Just like Uganda, Kenya also wants to increase its capitation grants to mainly secondary education.

Kenya\'s economic   growth has been forecast to decline  from 6.9 per cent to 6.5 percent in the coming financial year while  Uganda\'s economy is expect to  grow by 5.8 percent in the coming financial year compared to the 5.3 percent in 2014/2015.

Uganda has a budget deficit of seven percent of Gross Domestic Product compared to 4.5 percent in 2014/2015.

Rwanda\'s the total budget for fiscal year 2015/16 is projected at $2.47 billion compared with of $2.46 billion the 2014/15.