President William Ruto has directed ministries to cut their 2023/2024 budgets by 10 percent to align expenditures with available resources amidst the global economic stress.
While chairing a cabinet meeting at State House, Nairobi, President Ruto emphasized the need for the Government to exercise prudence in resource utilisation, firmly stating that wastage and corruption would not be tolerated.
The Head of State also issued a warning to government officials seeking to bypass the use of a unified payment system, underscoring the necessity for better oversight.
To mitigate price fluctuations, it was decided that the Government will set aside Sh4 billion to purchase maize from farmers.
Furthermore, the Cabinet noted the importance of supporting farmers in drying and storing the produce to mitigate post-harvest losses.
Additionally, the Cabinet approved the Gambling Policy, 2023, the Gambling Control Bill, 2023, and the National Lottery Bill, 2023, which will be forwarded to Parliament.
These Bills are intended to serve as a framework for transforming the gambling industry into a force for social progress.
They aim to strengthen regulation, address high taxation perceptions, and utilise technology for a responsible and thriving sector.
In another significant move, the Cabinet approved the immediate partial lifting of the moratorium on the issuance of new mineral rights for industrial and construction minerals.
The lifting, it was appreciated, will be staggered as the Government develops means for their exploitation, ensuring Kenyans benefit.
This aligns with the Bottom-Up Economic Transformation Agenda, which aims to decriminalize artisanal mining.
The meeting also declared mineral smuggling as an economic crime and approved the establishment of a special unit dedicated to compliance and enforcement against illegal mining and mineral smuggling.
Furthermore, the Cabinet endorsed the construction of a new 60,000-capacity stadium in preparation for the Africa Cup of Nations in 2027.
Renovations for the Moi International Sports Centre-Kasarani, Nyayo Stadium, and Kipchoge Keino Stadium in Eldoret are also in the pipeline for readiness ahead of the continental tournament.
