Principles of public finance

English

The following principles shall guide all aspects of public finance in the Republic—

(a)there shall be openness and accountability, including public participation in financial matters;

(b)the public finance system shall promote an equitable society, and in particular—

(i)the burden of taxation shall be shared fairly;

(ii)revenue raised nationally shall be shared equitably among national and county governments; and

(iii)expenditure shall promote the equitable development of the country, including by making special provision for marginalised groups and areas;

(c)the burdens and benefits of the use of resources and public borrowing shall be shared equitably between present and future generations;

(d)public money shall be used in a prudent and responsible way; and

(e)financial management shall be responsible, and fiscal reporting shall be clear.

Kiswahili

Kanuni za fedha za umma

Kanuni zifuatazo zitaongoza maswala yote yanayohusiana na fedha za umma katika Jamhuri-—

(a)kutakuwa na uwazi na uwajibikaji, ikijumuisha kushiriki kwa umma katika maswala ya kifedha;

(b)mfumo wa fedha za umma utakuza jamii yenye usawa, na hasa—

(i)mzigo wa utozaji ushuru utashirikiwa kwa haki;

(ii)mapato yanayopatikana katika ngazi ya kitaifa yatagawanywa kwa usawa kati ya serikali ya kitaifa na serikali za kaunti; na

(iii)matumizi ya fedha yatakuza maendeleo yenye usawa nchini, ikijumuisha utoaji wa mgao maalum kwa vikundi vya watu waliotengwa au wanaotoka maeneo yaliyotengwa; na

(c)mizigo na manufaa ya matumizi ya rasilimali na ukopaji wa umma yatashirikiwa kwa usawa kati ya vizazi vya sasa na vizazi vijavyo;

(d)fedha za umma zitatumiwa kwa njia ya busara na yenye uwajibikaji; na

(e)usimamizi wa fedha utakuwa wenye uwajibikaji, na kuripoti kuhusu hazina ya serikali na matumizi yake kutakuwa wazi.