Kenyan cabinet has approved spending $33 billion for the fiscal year 2025–2026

For the fiscal year 2025–2026 (July–June), Kenya’s cabinet has authorized spending of 4.2 trillion shillings ($32.65 billion), according to a statement released by President William Ruto’s office on Tuesday.

The Finance Ministry’s Budget Policy Statement provides specifics on the anticipated budget for 2025–2026. Additionally, the cabinet approved an additional 344.8 billion shillings to be spent in the 2024–2025 budget.

According to the president’s office, the budget proposals will now be sent to parliament for approval.

In June, Ruto faced the most crisis of his presidency when he was forced to abandon tax rises totaling over 346 billion shillings ($2.7 billion) due to protests spearheaded by young people.

The finance ministry’s July spending forecast was 3.87 trillion Kenyan shillings ($30 billion), which was less than the 3.99 trillion shillings that had been submitted to parliament the previous month.

Following an anticipated 4.6% increase last year, the cabinet reiterated the finance ministry’s predictions for economic growth in 2025 and 2026, which are 5.3%.