Why EAC nations’ budget reading is held on a Wednesday

By Steve Umidha

This year’s financial year budget statement will be read today (Wednesday) as opposed to the traditional second Thursday of June.

In the 2016/2017 budget the National Treasury will be highlighting its spending plan as well as revenue collection mechanism for the next 12 months to June 2017.

Kenya’s budget reading is done simultaneously with other East African member states after an agreement reached between the EAC countries to harmonise their budget reading process with Kenya, Uganda, Tanzania and Rwanda having their budgets read on the same day, ordinarily on Thursday.

The timetable for this year’s budget reading however, will alter since Uganda will be holding its National Heroes Day on Thursday – prompting the process to be done a day earlier.

The National Heroes Day is an annual fete’ set aside by the government of Uganda to honor and celebrate individuals who have given their lives to improve the lives of the people of Uganda.

Burundi is yet to adjust its financial year to rhyme with the rest of the EAC members’ state. Presently, Burundi’s budget year begins in January and the reading process takes place in December of the same year.

The EAC economies are presently interlinked with ambitious infrastructure projects in top gear.

The projects featured famously in the 2014/2015 and 2015/2016 read budgets aimed at improving trade and transport within the block – with some of the projects also inclined at drawing in South Sudan, Ethiopia and the Democratic Republic of Congo to boost the block.

Already, Kenya, Uganda and Tanzania are benefiting from exporting to their neighbors.

Rwanda for instance had in last year moved the famed annual baby gorilla naming ceremony, Kwita Izina to September from June as in previous years.  The initiative was done to accommodate a joint tourism promotion initiative between Rwanda, Kenya and Uganda.

The initiative has equally seen Kenya utilise the month of October to host its Magical Kenya Expo.

The single tourist visa and other initiatives have seen the region market itself as a single tourist destination.