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{
    "id": 755004,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/755004/?format=api",
    "text_counter": 90,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "(iv) 5 billion for the Contingency Fund. Since the approval of that Supplementary Budget in January, 2013, the Government continues to face a number of challenges and emerging priorities which were not anticipated, hence why this Supplementary Budget Estimates are here before this House. Again, the global economy remains very weak during this period, and this is likely to continue during the medium- term measures according to the IMF forecast that was presented in this quarter. Our economic growth is resilient, but is accompanied by a period of uncertainty, just after the general election. This means that there is a huge fall from the revenue raising targets. Expenditure pressure has persisted over this period. Despite the revenue shortfalls during this period, the National Treasury has again received requests for additional funding in the excess of 46.9 billion to mainly cater for the ongoing security operations, for the payment of interest, purchase of subsidized fertilizer, the assumption of office, completion of the markets, that is the Economic Stimulus Programme (ESP) markets, which I am sure in a number of constituencies have stalled and for mitigation of adverse effects of floods that happened within this quarter. That is why these Supplementary Budget Estimates are before this House. The Government has considered and recommended the use of Kshs31.9 billion, of which Kshs13.3 billion is for payment of interest. Finally, I would like to give the House the highlights of these expenditures as contained in the estimates books. Interest payment, as I said, is Kshs13.9 billion. This is required to cater for domestic interest which is about Kshs13.6 billion and foreign interest, which takes about Kshs0.3 billion. Next is security and related operations, Kshs5.2 billion. This is an additional expenditure required for the homeland and internal security operations and for an intervention in Somalia. Hon. Members will agree with me that the President has made a commitment that security will be a priority for this country for the sake of investment. So, Kshs5.2 billion will be used. The purchase of 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."
}