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{
    "id": 365579,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/365579/?format=api",
    "text_counter": 217,
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    "content": "per cent over the Budget Estimates for 2012/13. As a percentage of Gross Domestic Product (GDP), budgeted revenues are estimated at 24.7 percent in 2013/14. Hon Members, the targeted revenue is predicated on projected economic growth, but takes into account the challenges we have had in the past two years especially with collection of Valued Added Tax (VAT). We, therefore, expect to scale up the ongoing reforms in tax policy and administrative measures, to seal out loopholes and ensure sustainability in domestic resource mobilisation. In addition, the estimates of revenue take in to account the new tax measures that I will outline later in this Statement. Hon Members, with respect to expenditure, a total of Kshs1,640.9 billion including contingency provision, county transfer of Ksh210.0 billion and allocation to the Judiciary and Parliament amounting to Kshs16.1 billion and Kshs19.0 billion respectively. Of this, gross recurrent expenditure for the National Government is estimated at Ksh955.5 billion. This includes Kshs67.3 billion, which will be financed through Appropriations-in-Aid, and Kshs380.3 billion, financed directly from the Consolidated Fund Services. The balance of Ksh507.9 billion represents discretionary recurrent expenditures. Hon Members, the Consolidated Fund Services comprise Kshs110.2 billion for domestic interest payments; Kshs11.2 billion for foreign interest payments; Kshs38.2 billion for pensions; Kshs3.4 billion for salaries and allowances of constitutional office holders; and Kshs1.4 billion for guaranteed debt payments and other non-discretionally expenditures. In addition, I expect to finance external redemptions amounting to Kshs.88.6 billion and domestic redemptions amounting to Kshs.127.3 billion. In addition, I expect to finance external redemptions amounting to Kshs.88.6 billion and domestic redemptions amounting to Kshs.127.3 billion. In addition, I expect to finance external redemptions amounting to Kshs.88.6 billion and domestic redemptions amounting to Kshs.127.3 billion. Hon Members, gross development expenditures for 2013/14 is estimated at Kshs447.9 billion. Out of this amount, Kshs 201.1 billion will be financed through Appropriations-in-Aid, comprising of direct project financing of Kshs55.9 billion in form of grants, Kshs 140.5 billion in form of loans, and Kshs4.8 billion in form of Local Appropriations-in-Aid. Hon Members, taking the above into account, I expect to finance net development expenditure amounting to Kshs246.8 billion from the Exchequer. This comprises of Kshs 11.5 billion in form of grants revenue; Kshs 47.1 billion in form of loans revenue; and Kshs 188.2 billion domestically financed. Hon Members, these domestically financed development expenditures include Kshs3.4 billion Equalization Fund, which will be used to provide basic services including water, roads, health facilities and electricity to marginal areas in order to bring these services in the marginal areas to national standards in line with our constitutional requirement. Hon Members, total committed external grants from development partners amount to Kshs 67.4 billion. Details of the donors and projects being financed are included in the Development Estimates. I wish to sincerely thank our development partners for their continued support. Hon Members, with total expenditure of Kshs1,640.9 billion (inclusive of domestic and external debt redemption as well as contingency provisions), and total"
}