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{
    "id": 906330,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/906330/?format=api",
    "text_counter": 477,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Lower expenditure proposals are a welcome development as they signal the Government’s commitment towards the fiscal consolidation path. Indeed, the fiscal deficit for the FY 2019/2020 is estimated at 5.6 per cent of GDP and it is expected to decline to 3 per cent of GDP over the medium term in line with the East Africa Convergence criteria, as it has been spelt out in the Medium-Term Plan (MTP) III. If this path is actually followed, it will reduce our reliance on borrowing, lower debt levels and enhance efficiency in public spending. The Committee’s concern is that the actual budget implementation may adjust expenditure upwards. From history, it is clear that every year we pass the Budget, the first and the second supplementary budgets - as it is testament with the second supplementary budget that is also before this house - go towards increasing expenditure. Therefore, it basically negates what has been done during the budget process. We hope that the National Treasury and the Government, this year, will indeed, take seriously that aspect of fiscal consolidation to ensure that we do not negate what we are doing now. Already, as indicated, the FY 2019/2020 Budget is higher than the Budget Policy Statement’s (BPS) approved ceiling by Kshs78 billion. This indicates the Government’s propensity to spend despite the need for austerity. The higher expenditure levels have been accommodated through upward adjustments in the revenue projections from the BPS level by approximately Kshs35 billion. The total revenue in the FY 2019/2020 is projected at"
}