The finance minister Matia Kasaija is reading the sh48.1 trillion national budget for the financial year 2022/2023.
According to budget documents, the Government anticipates to generate sh25.7 trillion from revenue collections and the remaining sh22.4 trillion will come from internal and external borrowing.
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This comes against the backdrop of sh3 trillion and sh2 trillion revenue shortfalls the Government recorded in the financial years 2019/2020 and 2020/2021 respectively, mainly because of the COVID-19 pandemic.
In the current financial year, which ends on June 30, the shortfall is estimated in the range of sh900b.
