CS Mbadi to deliver fiscal year budget statement in parliament

John Mbadi, Cabinet Secretary for the National Treasury and Economic Planning, is scheduled to present the Budget Statement for the 2025/26 fiscal year on Thursday, June 12, 2025, at 3:00 p.m.

The National Treasury announced this in a public notice released on Tuesday, June 3, 2025, via MyGov, confirming that the presentation will take place at the Parliament Buildings.

"This is to notify the general public that the Budget Statement for the FY 2025/26 will be delivered by the Cabinet Secretary for the National Treasury and Economic Planning on Thursday, 12th June 2025, from 3:00 p.m. in Parliament," the notice reads.

This announcement comes after Mbadi recently indicated that the government plans to revise the 2025/26 budget proposal to account for lower-than-expected revenue and a tighter fiscal environment, following a year marked by economic challenges and missed targets.

In an interview with a local media outlet on May 23, 2025, Mbadi outlined a grim economic outlook for Kenya, highlighting reduced revenue collection, unmet IMF conditions, and rising expenditure pressures as key factors constraining the budget process for 2025/26.

He noted, "This financial year, 2024/25, has been very difficult. Recall last year’s events the Finance Bill was lost, which had significant repercussions. Additionally, the economy was shut down for two to three months, and these impacts will be felt for a long time."

The Treasury Cabinet Secretary disclosed that by the end of April 2025, the Kenya Revenue Authority had collected Sh2.12 trillion, with the amount increasing to Sh2.25 trillion by May 20, 2025.

Based on these figures, the Treasury now projects that revenue collection for the fiscal year will close at approximately Sh2.4 trillion, which is considerably lower than the initial targets.

"If you look at the projections, it’s clear we may fall short of the earlier revenue targets, which we have been revising over time due to the ongoing economic uncertainties," he explained.

He added, "External shocks, such as announcements from leading global economies, have also impacted us.

The IMF has downgraded its global economic outlook, and Kenya’s GDP growth has underperformed compared to earlier estimates.

Our revenue collections have consistently missed targets, and we have been closely monitoring the situation. At this point, we have a more realistic and clearer understanding of where we stand.”