A RACE AGAINST TIME IN GOVERNMENT SPENDING AS FINANCIAL YEAR COME TO A CLOSE!

Finance Minister, Ukur Yatani.

As the 2020/2022 come to a close, Chaduchinews have established that a lot of government activities are centered around exhaustive spending. In this, different government departments and county governments undertake what economists call Government final consumption expenditure on goods and services for current use to directly satisfy individual or collective needs of the Kenyan people.

In this Government spending or expenditure, all government consumption, investment, and transfer payments. In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure occur.

Kenya’s fiscal year begins on 1st day of July and ends on the last day of June. Being the month of June, the fiscal year is almost ending. A lot of activities in government corridors are geared towards reporting and plan for next year. While that is happening, some departments and county governments have opted to use all means possible to exhaust what they have. This includes using questionable means to achieve that goal.

A recent media report hinted of a fishy deal ongoing at the Ministry of Energy headed by CS Charles Keter that could see Ksh. 8m squandered by rogue public officials. In that deal, a pre-qualified contractor was to provide entertainment services in a presidential function. That function didn’t happen but still the payment voucher is being pushed with speed. This and many other suspicious transactions happen during this period as the Government closes its fiscal year.

28 thoughts on “A RACE AGAINST TIME IN GOVERNMENT SPENDING AS FINANCIAL YEAR COME TO A CLOSE!

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