Informkenya

Treasury Pays Out 24 Billion Kenyan Shillings To Counties

Kenya’s National Treasury has paid out 24.6 Billion Kenyan Shillings to county governments all over the country, as part of the equitable share.

The National Treasury. Image From Kenyan Wallstreet. www.kenyanwallstreet.com

The funds are expected to aid in the counties that are facing financial difficulties with regards to paying salaries, paying suppliers, as well as catering to other expenditures due to previous delays by the Treasury.

The pay out coming at a time when China, alongside the Paris Club members issued a debt payment break to Kenya, a decision which in turn freed up 60 Billion Kenyan Shillings that will be set aside for counties and other expenditures from January 2021 to June 2021.

According Kenyan Wallstreet counties now have balances of 61.4 Billion Kenyan Shillings at the Central Bank of Kenya.

The Treasury Cabinet Secretary Ukur Yattani made it known via a press release that, “The total balances for the various county governments now held at CBK amount to Sh61.4 billion, and in this respect we once again appeal to them to make full and timely use of these funds, as additional disbursements from the exchequer are made in due course.”

Ukur Yattani encouraged the counties to cater to all pending bills first so as to ensure that the numerous institutions affected, can carry out their duties effectively.

Ukur Yattani revealed via the press statement that, “Meanwhile, noting the general improvement of the economy and in particular positive revenue performance since December 2020, the National Treasury and Planning will prioritise disbursements to county governments, noting their critical obligations of service delivery to the Kenya citizens.”

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