{"id":188845,"date":"2024-06-11T05:26:46","date_gmt":"2024-06-11T05:26:46","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/11\/president-ruto-enacts-division-of-revenue-bill\/"},"modified":"2024-06-11T05:26:46","modified_gmt":"2024-06-11T05:26:46","slug":"president-ruto-enacts-division-of-revenue-bill","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/11\/president-ruto-enacts-division-of-revenue-bill\/","title":{"rendered":"President Ruto Enacts Division of Revenue Bill"},"content":{"rendered":"<p><\/p>\n<div>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-315252\" alt=\"\" width=\"918\" height=\"576\"  data-lazy- src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/rutosign.jpg\"\/><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-315252\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/rutosign.jpg\" alt=\"\" width=\"918\" height=\"576\"  \/>President William Ruto has signed the Division of Revenue Bill, 2024, paving the way for the submission of financial estimates for the 2024\/2025 fiscal year.<\/p>\n<p>For the 2024\/25 fiscal year, the total shareable revenue is set at Kes.2.9 trillion.<\/p>\n<p>The National Government will receive Kes.2.5 trillion to fund recurrent and development expenditures.<\/p>\n<p>Devolved units have been allocated Kes.400 billion as their equitable share of revenue.<\/p>\n<p>Counties will receive an additional Kes.14.6 billion, up from the Kes.385.4 billion allocated in the last fiscal year.<\/p>\n<p>\u201cThe increase in allocation to county governments aims to enhance service provision by ensuring adequate funding,\u201d President Ruto stated during the ceremony.<\/p>\n<p>The Bill allocates Kes..7.8 billion to the Equalization Fund, equivalent to 0.5 percent of the last audited revenue.<\/p>\n<p>\u201cThese funds will be used to provide basic services, including water, roads, health facilities, and electricity, to marginalized areas to improve service quality,\u201d he said.<\/p>\n<p>The enactment of the Division of Revenue Bill allows for the introduction and consideration of the Appropriation Bill by the National Assembly.<\/p>\n<p>The Bill provides funding for the national government, Parliament, and the Judiciary.<\/p>\n<p>It also enables Parliament to conclude the County Allocation of Revenue Bill, 2024, which is pending its Second Reading in the Senate.<\/p>\n<p>The Bill will divide the equitable share of Kes.400,116,788,147 among the 47 counties.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President William Ruto has signed the Division of Revenue Bill, 2024, paving the way for the submission of financial estimates for the 2024\/2025 fiscal year. For the 2024\/25 fiscal year, the total shareable revenue is set at Kes.2.9 trillion. The National Government will receive Kes.2.5 trillion to fund recurrent and development expenditures. Devolved units have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":188846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-188845","post","type-post","status-publish","format-standard","has-post-thumbnail","category-kenya-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>President Ruto Enacts Division of Revenue Bill - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/11\/president-ruto-enacts-division-of-revenue-bill\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"President Ruto Enacts Division of Revenue Bill - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"President William Ruto has signed the Division of Revenue Bill, 2024, paving the way for the submission of financial estimates for the 2024\/2025 fiscal year. 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