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{
    "id": 1254135,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1254135/?format=api",
    "text_counter": 86,
    "type": "speech",
    "speaker_name": "Prof. Njuguna Ndung’u",
    "speaker_title": "The Cabinet Secretary, National Treasury and Economic Planning",
    "speaker": null,
    "content": "Having listened carefully to the concerns from the public and taking cognisance of the socio-economic and environmental challenges facing the country, the budget policy highlights seek to provide solutions to the said concerns as we all work towards accelerating economic recovery. Proactively, the Kenya Kwanza Government has begun the journey to bring down the cost of living and improve the livelihoods, while at the same time fostering a sustainable inclusive economic transformation. The Government has taken the long-term sustainable approach of subsidising production of goods instead of consumption, to respond to the rising cost of living. In this regard, the Government has instituted immediate interventions that are aimed at providing short-term solutions to the high cost of living while at same time, building a momentum for the long-term economic vibrancy and transformation. In particular, the Government has covered the following areas: First, through the E- Voucher Fertiliser Subsidy Programme availed six million of 50 Kilogram bags of subsidised fertilizer worth Ksh15 billion that are retailing at a cost of Ksh3,500 per bag which is a reduction from the market price of Ksh6,500 per bag, representing a subsidy of Ksh3,000 per bag. So far, the Government has registered five million farmers nationwide and issued over 2.5million E-Vouchers to registered farmers. As a result, Kenyan farmers have been able to plant at least 200,000 additional acres of food this year and used two million more kilograms of seeds. That is expected to improve the agricultural yields. Secondly, the Government has granted duty waiver for importation of key food products such as: white maize, rice, yellow maize, soya beans, soya bean meal, assorted protein concentrates and food additives effective from 1st February 2023 to 6th August 2023. This has been in order to break the food stocks deficit and will lower the cost of food prices. As a result of the drought and the mitigation measures and the climate adaptation programmes, the Government initiated a national tree planting campaign that seeks to enhance our national tree cover from 12 per cent to 30 per cent through a target of planting 15 billion trees by 2032. In addition, the Government has initiated new dam constructions to address the drought concerns and ensure Kenya has enough harvested water to facilitate a water management strategy for irrigation and food production. Four, the Government has invested heavily in biotechnology research and uptake of drought tolerant crops to promote food security particularly, in marginalised areas. In the current year, over 250 metric tonnes of assorted drought tolerant seed valued at Ksh50 million have been distributed in Embu, Meru, Makueni, Machakos, Tharaka Nithi, Murang’a, Nyeri, Siaya and Busia counties. 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."
}