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{
    "id": 1254139,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1254139/?format=api",
    "text_counter": 90,
    "type": "speech",
    "speaker_name": "Prof. Njuguna Ndung’u",
    "speaker_title": "The Cabinet Secretary, National Treasury and Economic Planning",
    "speaker": null,
    "content": "Hon. Speaker, while we celebrate these achievements, we are aware that a lot remains to be done in order to decisively deal with the pressing socio-economic challenges, first, to reverse the effects of the recent past negative shocks, and second, to improve and accelerate the betterment of the livelihoods of Kenyans. It is for this reason that the Government is implementing the Bottom-Up Economic Transformation Agenda, popularly referred to as BETA, which is geared towards economic turnaround and inclusive growth. Aligned to this agenda, the theme for this year’s Budget is: “Bottom-Up Economic Transformation and Climate Change Mitigation/Adaptation for Improved Livelihoods of Kenyans.” Consistent with this goal, the Government will scale up implementation of policy priorities and structural reforms under the Bottom-Up Economic Transformation Agenda as detailed in the 2023 Budget Policy Statement and the Fourth Medium Term Plan (MTP IV) currently under development that will guide attainment of these development objectives as well as the continuation of the Kenya Vision 2030 and the Sustainable Development Goals (SDGs). The strategy will involve increasing investments in five strategic sectors that have the largest impact and linkages to the economy, as well as on household welfare as the starting point. These include: Agricultural Transformation; Micro, Small and Medium Enterprise Economy; Housing and Settlement; Healthcare; and Digital Superhighway and Creative Industry. Special focus will be placed on the interventions that reduce the cost of living; create jobs; achieve more equitable distribution of income; enhance social security, expand the tax base for more revenues to finance development; and increase foreign exchange earnings to give us flexibility in that market. We intend to implement the policy priorities within a sustainable fiscal framework. Overall, we have moderated our spending to ensure value for money and enhanced revenue mobilisation efforts to ensure that our public debt remains on a sustainable path. Prioritisation is critical because resources are scarce, thus limiting our capacity and desire to cover everything 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."
}