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{
    "id": 802021,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/802021/?format=api",
    "text_counter": 78,
    "type": "speech",
    "speaker_name": "Hon. Ichung’wah",
    "speaker_title": "",
    "speaker": {
        "id": 1835,
        "legal_name": "Anthony Kimani Ichung'Wah",
        "slug": "anthony-kimani-ichungwah"
    },
    "content": "The approach of fiscal consolidation is to address the issues of deficit financing so as to reduce the rate of accumulation of public debt while ensuring that priority programmes are ring- fenced. As such, the Budget should be based on realistic revenues and expenditure growth should be contained. A review of the Budget as per the functions of the Government indicates that the highest share of Government expenditure, about 29 per cent constitutes public debt transactions. Indeed, total Consolidated Fund Services expenditures are estimated to be about Kshs962.5 billion which relates to payments which includes interest and redemption payment amounting to Kshs870.6 billion. This reduces money available for discretionary expenditure on development. The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}