Assembly to hold special sitting to pass budget
Members of Nairobi County Assembly are expected to convene a special sitting any time this week to consider County budget estimates for the financial year 2022/23 which was tabled on May 31.
“The Select Committee on Finance, Budget and Appropriation together with the executive has retreated to finalise the report of the FY2022/23 budget and once they return we shall invoke the provisions of Standing Order 30 and convene a special sitting to consider the estimates,” Speaker Benson Mutura stated.
With a prediction that revenue collection will be affected by-elections, Nairobi county has proposed a Sh36.7 billion budget for the 2022/23 financial year. This is a decrease of Sh3 billion compared to the current financial year’s budget of Sh39 billion.
Finance executive Allan Igambi said the projected revenue decrease is attributed to a decline in equitable share and some own source revenue streams.
The projected revenue for 2022/23 FY is Sh36.7 billion which shows a decline compared to the previous year revenues, the situation is predictable over the medium term,” reads the County Fiscal Strategy Paper.