Tanzania Budget Overview
The main theme of the 2022/23 budget as agreed by East African Community Partner States is, “Accelerating economy recovery and enhancing productive sectors for improved livelihood” The above stated theme aims at focusing Government’s efforts on improving livelihoods by prioritizing productive sectors including agriculture, livestock, fisheries, energy, investment and trade. Also, the government is propelled to continue implementing development projects, and enhancing partnerships with the private sector in their implementation of development projects as well as stimulating industrial investment, especially using human resources and raw materials that are widely available in the country. With a budget allocation of TZS 41.48 trillion for recurrent and development expenditure, the budget has prioritized the following strategic areas:
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Uganda Budget Overview
he Ugandan Economy is steadily recovering from a slower growth due to the Covid-19 in the year 2020/2021. The World Bank’s forecast in the Global Economic Prospects places Uganda’s economic growth lower than most of its peers in the East African Community region. For the year 2021/2022 the economy is expected to grow at 4.6% compared to a revised 3.5% in 2020/2021. The growth is expected to mainly be driven by services sector contributing 41.5% in 2021/2022 (2020/2021: 41,8%), following the reopening of schools in 2022 and recovery in the hospitality sector.
DP per capita also increased from US$ 889 in FY 2018/19 to US$ 1046 in FY 2021/22, passing the annual National Development Plan III (NPD III) target of US$ 1006 and effectively confirming Uganda’s transition to lower middle-income status. Despite the above, the external risks emerging from the Russia–Ukraine conflict, which include inflationary pressures due to higher food and oil prices and continued supply chain disruptions create more uncertainty.
Kenya Budget Overview
The Cabinet Secretary for the National Treasury (CS) presented the 2022/2023 budget under the theme: “Accelerating Economic Recovery for Improved Livelihood”. The budget’s focus is on implementing economic policies and undertaking structural reforms geared towards improving the welfare of Kenyans. This includes accelerated implementation of the Big Four Agenda and the Third Economic Stimulus Program for sustainable growth.
The budget seeks to re-prioritize public spending towards pro-poor expenditures in health, education and supporting the vulnerable segment of the population. The Government will also leverage on the Public Private Partnerships to fund public projects, support the private sector and narrow the fiscal deficit.
The budget comes against a background of a moderate global growth of 4.4% in 2022, which is a slowdown from a recovery of 5.9% in 2021. There are some expected risks to this growth outlook largely from possible re-emergence of COVID-19 pandemic and the on-going conflict in Eastern Europe.
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