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{
    "id": 728662,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/728662/?format=api",
    "text_counter": 135,
    "type": "speech",
    "speaker_name": "Mr. Henry Rotich",
    "speaker_title": "The Cabinet Secretary for the National Treasury",
    "speaker": {
        "id": 13142,
        "legal_name": "Henry Rotich",
        "slug": "henry-rotich"
    },
    "content": "This Budget will continue to support devolution through disbursement of resources and maintaining transfers to county governments at levels well above the constitutional threshold. In this Budget, we shall continue to progressively reduce the fiscal deficit and ensure continued sustainability of our debt. In this regard, in the Financial Year 2017/2018, we project the fiscal deficit to decline to 6 percent of GDP from an estimated 9 percent in the current Financial Year. The sharp reduction of the deficit reflects reduced expenditure owing to the one off expenditures mainly those related to the general elections and the drought which are not expected to recur. Over the medium term, the deficit is expected to narrow to 4 percent of GDP by 2019/2020, which will further lower our debt-to-GDP ratio. Hon. Speaker, to further accelerate growth, create jobs and better the lives of Kenyans, I will be proposing tax measures to: 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."
}