Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 158194,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/158194/?format=api",
    "text_counter": 21,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "austerity measures through which we have realized Kshs22 billion. This involved cutting non-priority Recurrent Expenditure while postponing some development programmes that were unlikely to start this financial year. Additionally, we have realized savings on interest payments amounting to Kshs2.8 billion associated with the postponement of the sovereign bond and also on domestic borrowing where we have realized lesser payments as a result of reduced interest rates. In addition, we have realized revenue amounting to Kshs8.1 billion. Mr. Speaker, Sir, even with these measures, I still have a gap of Kshs38 billion to fill. To ensure that the economy remains on course, I plan to borrow this amount from the domestic market in order to close the gap. We have, however, taken extreme caution to ensure sustainability of the borrowing and gauge its impact on domestic interest rates. Prudent public finance management demands that the Government lives within its means. We have, therefore, contained our expenditure within the resources available in order to maintain macro-economic stability despite the challenges that I have just highlighted. Mr. Speaker, Sir, we have made re-allocations within the Budget to provide funding to strategic interventions, which include the following: the Kazi kwa Vijana initiative which we have given Kshs3.4 billion, emergency famine relief which will also assist in the purchase of wheat from our wheat farmers worth Kshs1.4 billion, resettlement of Internally Displaced Persons (IDPs), an additional Kshs0.2 billion which brings the total expenditure on IDPs to Kshs1.9 billion; importation of maize worth Kshs1.5 billion; drought-related interventions in water and livestock, Kshs1.6 billion and fertilizer imports worth Kshs2.3 billion. The Motion, therefore, before this House is seeking the approval for a sum not exceeding Kshs16.3 billion and Kshs9.9 billion from the Consolidated Fund to meet expenditure during the year ending 30th June, 2009 in respect of Recurrent and Development Supplementary Estimates, respectively. I am also seeking approval of the proposed reduction of Kshs15.6 billion and Kshs11.7 billion in respect of Recurrent Development Supplementary Estimates, respectively. Mr. Speaker, Sir, finally I wish to thank you and the hon. Members for your continued support and with these few remarks, I beg to move."
}