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{
    "id": 1569917,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1569917/?format=api",
    "text_counter": 129,
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    "speaker_name": "",
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    "speaker": null,
    "content": "It is important to note that this can only be realized through fiscal consolidation. Fiscal consolidation means that you enhance revenue collection. That is why we are working on automating the processes and procedures of the KRA. We want to make sure that we enhance efficiency and effectiveness of that institution. On the other side, we are also managing expenditure and prudent use of public funds. Revenue is one area that has resulted to over budgeting over the years, which has given us high fiscal deficit. One step that we have taken is that we have revised the Financial Year 2025/2026 revenue estimates down from Kshs3,018,000,000,000 to Kshs2,757,000,000,000. For the first time, the National Treasury's estimate of ordinary revenue is below the estimate by the Parliamentary Budget Office (PBO). The National Treasury's estimates have always been higher. We are doing that to make sure that we are realistic on the revenue side. I will now move to expenditure. Here, I will talk of the things that we are doing to ensure that we cut on expenditure. We reduced our expenditure based on the Budget Policy Statement (BPS) that was approved by Kshs120 billion for us to live within our means. We are taking steps to actualize fiscal sustainability. The Government will sustain efforts to strengthen accountability, transparency and the revenue mobilization path by the Medium-Term Revenue Strategy. We are also The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
}