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{
    "id": 662174,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/662174/?format=api",
    "text_counter": 205,
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    "content": "I now turn to Equalization Fund. I have allocated Kshs6 billion from the Equalization Fund to be disbursed among 14 counties as recommended in the policy on marginalised areas. We expect that the Equalization Fund allocation for Financial Year 2016/2017 as well as previous allocations currently being held in the Equalization Fund account at the Central Bank of Kenya (CBK), amounting to Ksh6.4 billion will be fully disbursed in the budget year 2016/2017, following Parliament’s approval of the Fund’s guidelines and the Fund’s official launch by His Excellency The President on March 11th 2016. The Equalization Fund allocation for the Financial Year 2016/2017 represents approximately 0.6 per cent of the last audited revenues approved by the National Assembly, which exceeds the constitutionally-prescribed minimum of 0.5 percent. The allocations from the Fund will be used to finance identified projects in 14 marginalised counties. The resources will be appropriated and channelled through the relevant Ministries. Before I move to the revenue measures to finance the planned expenditures, let me note that we are in the final stages of getting parliamentary approval for the Estimates of Expenditure submitted to this House in April 28th 2016 for us to prepare the Appropriation Bill. We will be 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."
}