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{
    "id": 1579488,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1579488/?format=api",
    "text_counter": 3408,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": "collected at the same time last year, we are still off target. Therefore, this necessitated the need to reduce the expenditures in line with the reduction in the actual revenues that occurred. However, it is very important to note that this Parliament, being the House that appropriates money, has endeavoured to reduce our deficit as a percentage of Gross Domestic Product (GDP). In the Financial Year 2022/2023, the deficit as a percentage of GDP was 5.7 per cent. In 2023/2024, we were able to reduce it to 4.9 per cent. For 2024/2025, we have brought it further down to 3.1 per cent. It means that this House has been cognisant of fiscal discipline and measures being put in place by the National Treasury, and we have agreed with them. We look forward to a time when our deficit as a percentage of GDP will be zero. Hon. Deputy Speaker, it is possible that in the next few years, especially with the decision to focus more on non-tax revenue, which includes Appropriations-in-Aid and Public- Private Participation projects, we will reach a point where this House will pass a balanced Budget. We will not have to borrow, whether externally or domestically, to finance the Budget. Article 223 is necessitated by emergencies that may not have been envisioned. With those remarks, Hon. Deputy Speaker, I beg to support the Report of the Budget and Appropriations Committee. I urge this House to support it. Thank you."
}