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{
    "id": 1250569,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1250569/?format=api",
    "text_counter": 1667,
    "type": "speech",
    "speaker_name": "Kiharu, UDA",
    "speaker_title": "Hon. Ndindi Nyoro",
    "speaker": null,
    "content": "Allow me to say something on some of the highlights. Before I go to the highlights, let me say something about our fiscal deficit. In the 2021/2022 Financial Year, our fiscal deficit as a share of the GDP was around 6.3 per cent. It was close to Ksh900 billion. In the last financial year, what appeared in the books was around Ksh860 billion. Unfortunately, upon further scrutiny by the Budget and Appropriations Committee, we realised that there is an extra Ksh200 billion that was pegged on Article 223. That was also part of the deficit. In actual sense, our deficit for the current financial year, which we are exiting, is Ksh1.1 trillion. In the Supplementary Estimates, we brought that down to around 5.7 per cent of our GDP. I want to announce good news to this House and to the people of Kenya: we have taken the path of fiscal consolidation. We have decided that we are not going to dig deeper into the hole of borrowing. That is why we have climbed down this financial year to a fiscal deficit of Ksh718 billion from last financial year’s fiscal deficit of Ksh1.1 trillion. Currently, we are at a stable 4.4 per cent fiscal deficit as a share of our GDP."
}