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{
    "id": 1051796,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1051796/?format=api",
    "text_counter": 33,
    "type": "speech",
    "speaker_name": "Sen. Kibiru",
    "speaker_title": "",
    "speaker": {
        "id": 13196,
        "legal_name": "Charles Reubenson Kibiru",
        "slug": "charles-reubenson-kibiru"
    },
    "content": "It came out from various Senators that sometimes our recommendations are not taken seriously. Therefore, it is important we do something that goes into history that we made serious insights or comments into the way we would want the budget of the economy of this country to run. As a Committee, we are proposing an amendment to Public Finance Management Act, 2012, with a view of increasing the days given to this process from 14 to 28 days. It is very important we start from the onset declaring that. Mr. Speaker, Sir, having gone through the BPS and the Debt Management Strategies that had been provided and presented to us by the National Treasury, we can clearly summarize and say that the interest of the Senate on the two issues can be categorized as follows- (1) National policies and programmes that had a direct impact on economic performance of counties; and, (2) Proposals on division of revenue between the two levels of Government and among counties for the Financial Year 2020/2021. Mr. Speaker, Sir, in carrying out the exercise and the duty we were given by the Senate to compile the report, we met the following entities and stakeholders to prepare this report- (i) The National Treasury; (ii) The Commission on Revenue Allocation (CRA); (iii) The Council of Governors (CoG); (iv) The Institute of Certified Public Accountants of Kenya (ICPAK); (v) The International Budget Partnership (IBP-Kenya Chapter); (vi) The Kenya Pediatric Research Consortium (KEPRECON); (vii) The Institute for Public Finance – Kenya (IPFK) together with Oxfam in Kenya; and, (viii) The Senate Standing Committees. Mr. Speaker, Sir, the people who prepared the BPS came up with a dicey - a bloody name for the BPS. They are calling it ‗Building Back Better- Strategy for Resilient and Sustainable Economic Recovery.‘ Mr. Speaker, Sir, as I mentioned, I do not want to dwell on issues that Senators can read. In the preamble pages of the BPS, the National Treasury with the team that prepared the BPS looked at both macro and micro economy, compared contemporary economies and the global economy and formed a basis on their proposals. Mr. Speaker, Sir, one issue that we all know is that due to COVID-19 and other extraneous economic factors, the economy did not perform well. Estimated growth is 0.6 per cent. This is from a growth of about 5.4 per cent in 2019. However, using a base, the National Treasury is projecting that the economy will grow at about seven per cent. Mr. Speaker, Sir, everybody and every stakeholder that we met, including the Senators who are here, because we live in this country, we all think that is a very ambitious projection. We are trying to ask the National Treasury to come clean on how the country or the economy will grow by seven per cent. The BPS has indicated that growth will be supported by stable microeconomic environment, favourable post COVID-19 global economic environment, expected The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}