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Joint press conference on status of AfDB funded projects in Kenya

The National Treasury and Ministry of Planning Cabinet Secretary, Henry Rotich [right], with African Development Bank [AfDB] Executive Director, Dr. Nyamajeje Caleb [left], addressing a joint press conference on the status of AfDB funded projects in Kenya, held at the National Treasury office, 13.4.2018.

KENYA MORTGAGE REFINANCE COMPANY (KMRC)

1. National Treasury Cabinet Secretary, Henry Rotich  addressing Stakeholders on Kenya Mortgage Refinance Company (KMRC) at a Nairobi Hotel.  KMRC, an initiative of National Treasury and World Bank will support the affordable housing agenda by providing secure, long-term funding to the mortgage lenders, thereby increasing the availability and affordability of mortgage loans to Kenyans. DOWNLOAD SPEECH

Launch Of The 2015/16 Kenya Integrated Household Budget Survey Basic Reports

Speech By Mr. Henry Rotich, EGH, Cabinet Secretary, To The National Treasury And Ministry Of Planning 22nd March 2018 At The KICC, Nairobi. Download Speech

 

 

 

 

Signing of Loan Agreement between Kenya and Japan

 

Nairobi,March 16, 23018

National Treasury Cabinet Secretary, Henry Rotich (Center) and Japanese Ambassador to Kenya, Toshitsugu Uesawa (2nd Left) pend their signatures to loan agreements for Olkaria 1, 2 and 3 Geothermal Power Rehabilitation Project amounting to Sh 9.53 billion and the Exchange of Notes for a Grant to Purchase Patrol Motor Boats for Fisheries Department amounting to Sh 274.4 million today, 16th March, 2018 at the National Treasury Building in Nairobi.

“The Girls Matter” Meeting



Nairobi, March 8, 2018


National Treasury Cabinet Secretary Henry Rotich in a group photo with with young women entrepreneurs today, Thursday, March 8, 2018 at Kenyatta International Convention Centre (KICC) during a meeting themed “The Girls Matter”, a conversation with young women in Kenya that coincided with the International Women Day celebrations. Download Speech

French Delegation

CS National Treasury, Henry Rotich,met and held talks with French Ambassador to Kenya, Mr. Antoine Sivan, who led a delegation of French investors who paid a courtesy call at the National Treasury Building this morning. The investors are in Kenya to look for investment opportunities in various fields.

Statement by Mr. Henry Rotich, EGH Cabinet Secretary, The National Treasury & Planning During The Visit By Mr. Jean –Pierre Marcelli, Agence Francaise De Developpment (AFD) Director Sub-Saharan Africa On 1st March 2018

Statement by Mr. Henry Rotich, EGH Cabinet Secretary, The National Treasury & Planning During The Visit By Mr. Jean –Pierre Marcelli, Agence Francaise De Developpment (AFD) Director Sub-Saharan Africa On 1st March 2018. Download Full Statement

Post-Election Economic And Fiscal Report

Post-Election Economic And Fiscal Report. Download Full Report

Statement By The National Treasury On The Issuance Of The Eurobond

Statement By The National Treasury On The Issuance Of The Eurobond

Download Full Statement

Quarterly Economic and Budgetary Review First Half Financial Year 2017-2018 Period ending 31st December 2017

Quarterly Economic and Budgetary Review First Half Financial Year 2017-2018 Period ending 31st December 2017

Post-Election Economic And Fiscal Report

2018 Budget Policy Statement

Pre-Election Economic And Fiscal Report 2017

Kenya’s sound macroeconomic management and economic resilience built over the years has enabled the country to maintain strong economic growth and stability.
The Director General of Budget, Fiscal and Economic Affairs in the National Treasury Dr. Geoffrey Mwau, said Kenya’s economic growth prospects continues to remain stable due to the strong foundation of economic transformation.


 “In 2014, the economy grew by 5.3 percent and is estimated to expand by 6.5 to 7.0 percent in 2015, rising further to 7.0 percent over the medium term”, Dr. Mwau said.
The Director General of Budget, Fiscal and Economic Affairs was speaking at Kenyatta International Convention Centre (KICC) Nairobi after making a presentation to the Budget Sector Working groups on the state of the economy and the macroeconomic outlook for financial year 2016/17 and the medium-term.
“The various priority economic policies, structural reforms and Sectoral expenditure programmes outlined in the 2015 Budget Policy Statement will address challenges to economic outlook, bolster resilience to shocks and foster sustained high and inclusive growth as part of the strategy of enhancing economic transformation for a shared prosperity”, Dr. Mwau added.
He said the country’s growth prospects is favourable and is expected to be boosted by fairly good amount of rainfall and implementation of strategic interventions to revamp agriculture and energy sectors, adding that the completion of  infrastructure projects such as Standard Gauge Railway, roads and energy generation will create employment and reduce poverty.
“Stable macroeconomic environment characterized by low inflation, and stable interest rates and exchange rate will improve the country’s competitiveness and boost investments”, said Dr. Mwau.
Further structural reforms on improving competitiveness of the private sector and promoting overall productivity in the economy, he said, will be undertaken, adding that exports will continue to benefit from the initiative to deepen regional integration and promote Kenya’s exports globally.
“The agenda focuses on locking in a solid, sustained and balanced growth that opens economic opportunity and provides a better future for all Kenyans”, the Director General said.
On monetary policy, Dr. Mwau said the country will strive to maintain a stable inflation of around 5 percent interest rates and exchange rates and strengthen the international reserves position to over 4.5 months of import cover.
He said fiscal policy will support rapid economic growth and ensure the debt position remains sustainable while at the same time supporting the devolved system of government.
“The focus of Government is and will be on programmes that will end poverty through job creation, entrenching human lives, engendering human potential and security prosperity for all Kenyans”, the Director General said.
Dr. Mwau however pointed out the challenges in the macroeconomic environment such as public expenditure pressure, especially recurrent expenditure which continue to pose a fiscal risk to the economy.
Wage pressure and the inefficiencies in the devolved services, he said, may limit continued flow of funding for development expenditure.
“The impact of insecurity on tourism, and depressed rainfall which could affect exports and agricultural production, continued weak growth in advanced economies that will impact negatively on our exports and tourism activities, and geopolitical uncertainty on the international oil market will slow down the manufacturing sector”, added Dr. Mwau.
Dr. Mwau said the government has negotiated a stand-by arrangement and stand-by credit facility (SBA/SCF) of US$688.3 million to mitigate against exogenous shocks which might affect public investments.
He further said the government will continue to construct dams for irrigation, to enhance food security and to modernize security systems in a bid to eradicate insecurity and to attract investments and tourists to the country.
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