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{
    "id": 1254143,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1254143/?format=api",
    "text_counter": 94,
    "type": "speech",
    "speaker_name": "Prof. Njuguna Ndung’u",
    "speaker_title": "The Cabinet Secretary, National Treasury and Economic Planning",
    "speaker": null,
    "content": "3. Enhance investment in key economic sectors for broad based sustainable economic recovery by promoting agricultural transformation, growth in manufacturing, environmental conservation and water supply, food security, climate change mitigation and adaptation, tourism recovery, and sustainable land use and management. Food security and climate change will also become a focal point for policy formulation going forward; 4. Expand access to quality social services in health, education and appropriate social safety nets for the vulnerable population; and 5. Support the youth, women and persons living with disabilities through government-funded empowerment programmes that leverage on partnerships with private sector organisations. Hon. Speaker, the Government under the support of development partners is implementing a programme that aims at boosting revenue mobilisation and reduce total expenditure as a percentage of Gross Domestic Product (GDP). Thereby, providing a growth friendly fiscal consolidation plan designed to slow down the annual growth in public debt and implement an effective liability management strategy, without compromising service delivery to citizens. This fiscal consolidation plan targets to gradually reduce fiscal deficit, including grants from 6.2 per cent of GDP in the Financial Year 2021/2022 to 5.8 per cent of GDP in the Financial Year 2022/2023 to 4.4 per cent of GDP in the Financial Year 2023/2024 and further to 3.6 per cent in the Financial Year 2025/2026. Hon. Speaker, we are truly grateful as a nation to our development partners who have over the years provided financial resources to support implementation of government programmes, policy and structural reforms. In particular, allow me to single out the multilateral institutions, specifically the World Bank, the International Monetary Fund (IMF), the European Union (EU), the African Development Bank, and the many bilateral donors, institutions and Governments that have walked the journey of socio-economic transformation with Kenya."
}