Kenya’s cabinet has approved a proposed budget of 4.2 trillion shillings ($32.65 billion) for the 2025/26 fiscal year, according to an announcement from President William Ruto’s office on Tuesday. The spending plan, outlined in the finance ministry’s Budget Policy Statement, will now be submitted to parliament for approval.
Additionally, the cabinet endorsed an extra 199.9 billion shillings for the 2024/25 budget. This follows last year’s decision by Ruto to scrap tax hikes worth over 346 billion shillings ($2.7 billion) after mass protests led by young demonstrators.
The finance ministry has maintained its economic growth projections at 5.3% for 2025 and 2026, up from an estimated 4.6% growth in 2024.