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{
    "id": 1134101,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1134101/?format=api",
    "text_counter": 81,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "The Committee made several observations including- (1) The ordinary revenue projection for the Financial Year 2022/2023 is Kshs2,141.6 billion. This is a growth of 19 per cent which is quite an overestimation. Unless there is a policy change, these projections may not be achieved. Many people think that it is a wish list, but it is also good to dream. (2) That the fiscal deficit increases within the financial year when revenue targets are not achieved and this leads to increased borrowing outside the targets approved in the BPS. That has continued year in, year out. (3) The proposed allocation to counties of Kshs370 billion, has not factored in inflation. Therefore, in real terms, the allocation is lower than the allocation for the Financial Year 2021/2022. The year we are talking about, the inflation is about 5.3 per cent. So, that has not been factored. Mr. Speaker, Sir, the Committee recommends to the House that the 2022 BPS and MTDMS be approved with several policy and financial recommendations as contained in the report. These recommendations include- (1) That the National Treasury should- (a) Adjust for inflation on the county equitable share and further ensure that the allocations to counties are not less than 35 per cent of the most recent audited and approved accounts for the Financial Year 2017/2018 amounting to Kshs1,413.69 billion."
}