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{
    "id": 663629,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/663629/?format=api",
    "text_counter": 132,
    "type": "speech",
    "speaker_name": "Hon. Musyimi",
    "speaker_title": "",
    "speaker": {
        "id": 95,
        "legal_name": "Mutava Musyimi",
        "slug": "mutava-musyimi"
    },
    "content": "The proposed Expenditure Estimates for 2016/2017 amounts to Kshs.2.27 trillion up from Kshs2.09 trillion in the last financial year. This is equal to 30.8 percent of the country’s Gross Domestic Product (GDP). Other highlights in this Budget include targeted revenue collection for 2016/2017 of Kshs1.5 trillion up from Kshs1.2 trillion last year; Kshs310 billion for Consolidated Fund Services; Recurrent Expenditure amounting to Kshs858.1 billion; Development Expenditure amounting to Kshs817.9 billion; county allocations amounting to Kshs284.8 billion; the Contingency Fund amounting to Kshs5 billion and Equalization Fund amounting to Kshs6 billion. Hon. Speaker, arising from the increased expenditure and the revenues highlighted above, the resulting budget deficit amounts to Kshs775.7 billion. This is funded through the external grants of Kshs72.6 billion and Kshs459.4 billion foreign financing as well as Kshs43.7 billion domestic financing. Compared to the fiscal framework of the BPS, the increments in expenditure will largely be financed from increase in borrowings and grants."
}