President William Ruto has signed into law the Supplementary Appropriation Bill 2024 and the Division of Revenue Bill 2024.
Speaking at State House, Nairobi, Ruto emphasized that these bills will unlock critical resources to catalyze economic performance and improve the government’s service delivery to the public.
The Supplementary Appropriation Bill, in particular, will release necessary funds for government expenditure for the financial year ending June 30, 2024.
The President highlighted that the new law allocates additional resources to development, university, and secondary education while reducing the overall budget by Sh132 billion.
“It signals our commitment to reducing deficits and debt accumulation,” Ruto stated.
According to the Treasury, the bill also aims to regularize Sh23.67 billion in expenditures under Article 223 of the Constitution, including funds for emergency interventions.
This move is expected to stabilize the fiscal framework and ensure prudent financial management.
