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{
    "id": 1382883,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382883/?format=api",
    "text_counter": 137,
    "type": "speech",
    "speaker_name": "Sen. Cheruiyot",
    "speaker_title": "The Senate Majority Leader",
    "speaker": {
        "id": 13165,
        "legal_name": "Aaron Kipkirui Cheruiyot",
        "slug": "aaron-cheruiyot"
    },
    "content": " Mr. Speaker, Sir, I am surprised because Sen. Faki was loud in passing the four minutes. I am now wondering why--- I will be brief because the BPS is a straight-forward matter. There is a history as to why I want the House to pass this report. On many occasions over the years, the National Treasury has continually returned to us months later saying they received our reports late after the statutory timeline. Therefore, it was impossible for them to consider the recommendations we had prepared for them. Today being the last day, I request that upon completion of this debate, Members stick in the House, so that we vote and send our recommendations to the National Treasury. There are important policy recommendations in this report. However, there is only one that is of extreme interest to me and the House must reason together. This is on the issue of fiscal deficit. If you read recommendation (c) on financial implications, there is a proposal from the committee that fiscal deficit for 2024/2025 be binding at Kshs703.9 billion, which is 3.9 per cent of the Gross Domestic Product (GDP). It has been described elsewhere that insanity is trying to do the same things over and over, while expecting different results each time. We have done this many times before. We have considered BPS and set a fiscal deficit at a certain percentage, yet we know that these figures are continually breached by our colleagues in the National Assembly who pass further Supplementary Budgets and the National Treasury. I strongly feel that it is only the Senate that can rescue the people of Kenya from this continuous mismanagement of our economy. The Committee on Finance and Budget should propose amendments to the Public Finance Management (PFM) Regulations, so that we limit the powers of both the National Assembly and the National Treasury. Unfortunately, this practice has permeated our counties. Many governors continue to budget with revenues that are high up in the sky with the sole interest of issuing tenders and eventually end up with huge pending bills that cannot be paid. The same is being witnessed in our National Treasury. Mr. Speaker, Sir, we need to do an amendment so that we know the revenues being projected. It is known to all and sundry that it is nearly impossible in the next financial year that the Government of Kenya (GoK) will collect Kshs3.4 trillion as projected. That means that even that calculation of 3.9 per cent is on projected revenue, something we know is unattainable. We need to move an amendment and propose to the nation that in doing our revenue projections, we should not over-budget beyond the projected revenue growth by the percentage of the GDP such that if you calculate the fiscal deficit, then you will maintain it within realms of reality. Otherwise, it will be business as usual and we are going to continue wallowing in this dismal performance situation with our debt problems. Mr. Speaker, Sir, I encourage the Committee on Finance and Budget to move an amendment, so that we guide the country in the proper direction with regard to this sticky issue of fiscal deficit. I thank you."
}