Order, hon. Members! Proceed, Mr. Deputy Prime Minister and Minister for Finance!
Mr. Speaker, Sir, I beg to move that the Speaker do now leave the Chair. Mr. Speaker, Sir, I am once again honoured to present to this august House the national Budget for 2010/2011, which comes against the backdrop of improved economic environment both at the global and domestic levels. There is a strong indication that the measures undertaken at the global level as well as those that we have resolved to implement ourselves are beginning to bear fruit. We are today presenting this yearâs Budget in a completely different setting. We have received above average rains since November of last year that now put us in a much stronger position in terms of water availability, cheaper electricity and food security. The recovery of the global economy is underway, and that is good news for Kenya, although some challenges still remain, as I will elaborate later. Mr. Speaker, Sir, building on this renewed optimism, the Government commits in 2010 to take further steps to put our economy onto a higher and permanent growth path as envisioned in our Vision 2030. Recognizing that high growth alone will not alone deliver all aspects of our development as envisioned, the Government will upscale programmes and projects that we started in 2009 so that every part of our country can benefit. The theme of this yearâs Budget is, therefore, âTowards Inclusive and Sustainable Rapid Economic Growthâ. Mr. Speaker, Sir, just to highlight recent economic developments with regard to the global economy, it is important at the outset to take stock of economic developments at the global scene, which may have direct bearing on our domestic economy going forward. As I indicated earlier, the recovery of the world economy is now underway, buoyed by increased confidence amongst consumers and businesses, as well as financial market players. The growth of global output is projected to reach 4.2 per cent and 4.3 per cent in 2010/2011 respectively, up from 0.6 per cent in 2009. The recovery of the global economy in 2010 is largely due to stronger rebound in the economies of major industrial countries and resilience in key emerging and
(Mr. Raila) seconded.
Hon. Members, that brings us to the end of business this afternoon. All hon. Members and our invited guests are welcome to a party in our gardens, hosted by the Deputy Prime Minister and Minister for Finance. The House is, therefore, adjourned until Tuesday, 15th June, 2010, at 2.30 p.m.
The House rose at 4.40 p.m.