Entry Instance

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

{
    "id": 365582,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/365582/?format=api",
    "text_counter": 220,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "expected receipts of Kshs1,284.0 billion (including loans and grants), the overall deficit amounts to Kshs356.9 billion. However, hon Members, excluding the domestic debt rollover of Kshs126.1 billion from expenditures and reflecting external debt redemption of Kshs 88.6 billion as a financing item, while at the same time reflecting loan external financing in a more acceptable international standard practice, total expenditure would amount to Kshs 1,424.8 billion, thus giving rise to an overall fiscal deficit of Kshs 329.7 billion (7.9 percent of GDP). This will be financed by net foreign financing of Kshs.223.0 billion and Kshs106.7 billion net borrowing from domestic market. Hon Members, this means that the fiscal framework for 2013/14 is fully financed. In terms of allocation to county governments, hon Members, the total allocation to county governments is Kshs 210 billion, of which Kshs 190 billion in equitable share, and conditional grant of Kshs 20 billion. The equitable division of revenue takes into account the functions assigned to the counties as outlined in the Constitution and the factors listed in Article 203 of the Constitution. The Transitional Authority has gazetted all the county functions to be performed by county governments, starting July 1st 2013. They have also assessed the capacity of the county governments to provide the services assigned to them. Those counties, which will not be in a position to perform any of the transferred functions, may request the National Government to assist as their capacities are being developed. Hon Members, the rest of my highlights outline various tax measures I intend to introduce through the Finance Bill 2013, which I have already submitted to the Budget and Appropriations Committee, and other regulations I have tabled in this House. This is towards accelerating broad-based economic growth, job creation and poverty reduction. The tax measures and other miscellaneous amendments I intend to propose hereunder are broadly categorized into five priority areas, which complement the various policies I have already outlined in the earlier part of my statement. These are: i Facilitating infrastructure development for a competitive economy;"
}