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{
    "id": 1250561,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1250561/?format=api",
    "text_counter": 1659,
    "type": "speech",
    "speaker_name": "Kiharu, UDA",
    "speaker_title": "Hon. Ndindi Nyoro",
    "speaker": null,
    "content": "That is the same reason we have seen stocks on the Nairobi Securities Exchange (NSE) go down. It is not just a Kenyan issue. If you go to the London Stock Exchange (LSE), it is the same. They have been going down. It is the same in other securities exchanges across the world because of investors who are taking their capital to the USA. The same compounds the matter of our imports because Kenya is a net importer. When you have a greenback that is very dominant and rising in strength, what that consequently means is that our local currency continues to lose. When our local currency loses, this adds to the cost of imports. This is especially bad when an economy is a net importer. I have dwelt on that matter because it has very far-⁠reaching effects yet it is not usually much referenced. I wish to bring to this House what I would call the framework of the current Budget Estimates. We are making a budget of Ksh3.679 trillion in the Report before us. On the revenue side, we are expecting to raise Ksh2.57 trillion in terms of ordinary revenue out of that. We are expecting to have A-in-A of around Ksh347 billion. We expect to have grants of Ksh42 billion. That leaves us with a fiscal deficit of around Ksh718 billion. On the expenditure side, we expect to spend roughly Ksh1.6 trillion in national Government’s Recurrent Budget. We will be spending around Ksh718 billion in Development. In the same period, Financial Year 2023/⁠2024, we have allocated an unprecedented figure of Ksh986 billion to the Common The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}