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{
    "id": 965059,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/965059/?format=api",
    "text_counter": 395,
    "type": "speech",
    "speaker_name": "Suba South, ODM",
    "speaker_title": "Hon. John Mbadi",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "Hon. Members will allow me to emphasis that the Budget is not just a game of numbers. It is a means through which a country can realise its growth agenda. However, this realisation will remain a mirage, as long as those charged with the responsibility of forecasting this valuable item are not keen. Credible revenue and expenditure projections and public debt are the corner stone of sound and credible budgets. You must get revenue projections, expenditure projections, estimates and public debt projections right, if you want to have a credible budget. Looking back over the last five years, we have never been within the economic growth or revenue targets. For example, in 2011/2012 we missed the revenue targets by 6 per cent. In the Financial Year 2015/16 we missed it by close to 12 per cent. More recently, 2017/18 we have missed the target with close to 20 per cent. As you can see the trend is worrying and all of us must get concerned. I wonder by how much we are likely to miss the target in 2019/20. With the over ambitious budget we had of revenue projections upwards to Kshs.1.87 trillion, it is obvious that we will miss the target of this year with a significant amount of money. However, the National Treasury has proposed to revise the revenue projections downwards. But I still believe that revision is still below the actual possible amount with which we will miss the revenue targets."
}