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{
    "id": 1451037,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1451037/?format=api",
    "text_counter": 4421,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": ", the National Treasury ensures that at least 30% of the national budget is allocated to development expenditure during the preparation of the 2025 Budget Policy Statement (BPS), in accordance with the fiscal responsibility principle, as set out in section 15(2)(a) of the Public Finance Management (PFM) Act, CAP 412A. Hon. Temporary Speaker, first, I thank this House because we have had a very rigorous period for the last two weeks considering these Supplementary Estimates. This is Supplementary I. In reality and practically, we know that this is the Main Budget. I say so because this was occasioned by the fact that we passed the Appropriation Bill in this House. It became an Act of Parliament. This was in the hope and anticipation that the other side of the Budget would pass. However, as we all know, Kenyans have requested this House and the leadership to re-look inwards for other alternatives. That is why we have come to this House with Supplementary Estimates I even before implementing the Budget. For the past three weeks, the Government has only been implementing that which must be done with regard to funding only the critical areas of the Budget whereas the other areas have been put in abeyance waiting for this process. This House passed a Budget of Ksh3.992 trillion last month. We have brought to this House today, a Budget of Ksh3.88 trillion. There is an overall decrease of about Ksh111 billion. This is not just a decrease. The decrease I have talked about is pegged on two things. There was a wide gap after passing the Budget in this House. In terms of what we need to do to fill that gap or finance the Budget, there were only two alternatives to invoke. One is to borrow slightly more, which we are doing through this Budget. We are now borrowing Ksh767 billion up from what we were to borrow before. It was previously about Ksh600 billion. Therefore, there is an increment in the deficit by the difference, which is over Ksh160 billion – to be precise, about Ksh167 billion. That is one side. The other side is to cut on expenditure. We are reducing the expenditure by Ksh111 billion. However, it is more because there is expected additional revenue in form of Appropriation-in-Aid (A-in-A) of Ksh2 billion. Therefore, the overall expenditure decrease is about Ksh112 billion. Hon. Temporary Speaker, it is important for us to brief the House on the country’s economic performance even before we proceed. Kenya’s economic performance in 2023 was not 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."
}