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{
    "id": 444369,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/444369/?format=api",
    "text_counter": 73,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Thank you, hon. Speaker. I beg to support this Supplementary Appropriation Bill and also thank the Budget and Appropriations Committee. Parliament recently passed the Supplementary Estimates I which reflected an increase of about Kshs65.5 billion for both Recurrent Expenditure and Development Expenditure. Since the approval of those Supplementary Estimates, in the opinion of the Cabinet Secretary for National Treasury, the Government faced additional spending pressure amounting to about Kshs80.7 billion out of which Kshs45.2 billion was for Recurrent Expenditure and Kshs35.5 billion for Development Expenditure. This was developed on the basis of a tight fiscal framework due to suppressed growth projections that were anticipated. For the benefit of the Members, the Supplementary Estimates gave Government the ability to generate new resources. This implies that the new requests from Parliament have to be constrained within the existing provisions in terms of contingency. Even the areas where this Supplementary Estimates II is providing resources are very specific, in that they will help the economy before the end of this financial year. Salary related items in this Bill are Kshs4.5 billion. The ongoing projects have been allocated Kshs30.4 billion. The major areas that require additional funding include pending bills for completed road projects. Those who have finished their bit in the economy have Kshs15.5 billion. Security operations have been allocated Kshs20.2 billion. Of course, we have dam construction, agriculture and food security which have been allocated Kshs6.6 billion. Drought mitigation and emergency relief has been allocated about 2.7 billion. International obligations and State visits have been allocated Kshs1.8 billion. Hon. Speaker, in order to grow and ensure a sustainable growth, this additional funding has been done along the Government policy of rationalization where the resources are given to limited priority areas in order to find the necessary intervention which cannot be postponed before the end of the financial year. The highlights of this Supplementary Estimate also provide how this money will be withdrawn from the Consolidated Fund. I am sure that is well shown in the Budget. We are three or four days to the end of the financial year and we are passing the Supplementary Estimates II today. If the House passes this Bill at the Third Stage and the President assents to it on Thursday then the Cabinet Secretary for the National Treasury is under obligation to pay out this money before Tuesday, which is the beginning of the next financial year. As Jubilee Government, we floated the Euro Bond. The Jubilee Government was asking for US$2 billion. No country, even big economies like Nigeria and South Africa have ever raised Euro Bond to the tune of US$8.7 billion. Hon. Speaker with US$8.7 billion, it shows that investors out there have a serious and fundamental confidence in the Kenyan economy, despite the many security challenges that we have. The countries in Africa that did the same Euro Bond, the best The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}