Hon Anthony Kimani Ichung'Wah

All parliamentary appearances

Entries 2251 to 2260 of 3227.

• 6 Jun 2018 in National Assembly: To further strengthen financial consolidation adopted by the Government, the Committee is considering deeper scrutiny of all public finances, including all finances held by various parastatals. In this regard, the Committee has started using past fiscal prudency to review expenditure allocation to various agencies. To do this, the Committee has endeavoured to reduce, in a targeted way, allocations to agencies with numerous audit queries relating to misuse of public money. Similarly, the Committee has proposed removal or reduction of allocations which are in the Budget Estimates without proper justification and performance targets. With that, Members will note in our Report ... view
• 6 Jun 2018 in National Assembly: In terms of realising macro framework underpinning the budget and the financing of the budget, the Committee is pleased to note that the 2018/2019 Budget has been prepared at a time when the economic environment is favourable. Business activity has picked up due to the improved political stability. Definitely after the handshake and the hugs, inflation is within five per cent target and has recently declined to 4.18 per cent in March 2018 and 3.78 per cent by April, 2018. The exchange rate is also quite stable due to increased Diaspora remittances and the food outlook seems promising even though ... view
• 6 Jun 2018 in National Assembly: According to the macro framework underpinning the 2018/2019 Budget, the economy is projected to expand by 5.8 per cent in 2017 from 4.9 per cent in 2016 and to expand further to a promising seven percent over the medium term. The key drivers for this growth are improved agricultural performance, manufacturing activities as well as the ongoing public infrastructural investments. Stability in the macroeconomic environment is expected to strengthen this growth. Inflation is expected to remain within a target range of five per cent over the medium-term. Interest rates are expected to remain low and the exchange rate stability will ... view
• 6 Jun 2018 in National Assembly: Moving on to the key highlights of the 2018/2019 Budget, the overall proposed Budget for the Financial Year 2018/2019 amounts to Kshs3.074 trillion which comprises the following allocations: National Government - Kshs1.676 trillion, the Judiciary - Kshs17.76 billion, both Houses of Parliament - Kshs42.54 billion, the Consolidated Fund Services - Kshs962.562 billion and the County Revenue Allocation - Kshs372.742 billion. The general direction of the fiscal policy as indicated by the national Government is a reduction in expenditure as Government pursues fiscal consolidation in line with the East African Community (EAC) Monetary Convergence Criteria to bring down the fiscal deficit ... view
• 6 Jun 2018 in National Assembly: 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 ... view
• 6 Jun 2018 in National Assembly: There is, therefore, need to exercise caution in the accumulation of additional debt in order to ensure adequate fiscal space for planning and budgeting. view
• 6 Jun 2018 in National Assembly: Moving on to financing of the 2018/2019 Budget and the medium-term, the Budget will be financed through domestic revenue estimated at Kshs1.923 trillion comprising of ordinary revenue of Kshs1.743 trillion and Appropriations-in-Aid amounting to Kshs179.95 billion. The proportion of revenue estimates to GDP for 2018/2019 is 19.6 per cent which is equivalent to that of 2017/2018 Budget. This means that in our revenue collection effort, all performance will remain fairly the same in the coming Budget as that of the current Financial Year ending at the end of this month. view
• 6 Jun 2018 in National Assembly: Expected grants from foreign governments and international organisations will amount to approximately Kshs47.037 billion bringing the total revenues to Kshs1.970 trillion. Given that these resources are inadequate to finance the projected total expenditure and net lending amounting to Kshs2.533 trillion, the Government will need to finance about Kshs562.748 billion fiscal deficit through borrowing. view
• 6 Jun 2018 in National Assembly: Moving on, submissions got from departmental committees as indicated in our Report to the Budget proposals for this coming Financial Year 2018/2019, were committed to the departmental committees of the National Assembly for review of the Budget proposals for each MDA within their purview. This Committee examined and discussed the Budget Estimates in line with their specific mandate and made both policy and financial recommendations which were submitted to the Budget and Appropriations Committee for incorporation in this Report. view
• 6 Jun 2018 in National Assembly: During these discussions with various departmental committees, some pertinent concerns and observations arose, notably, the issue of pending bills. This is a major concern that cuts across all MDAs and has led to increased project costs. Other major concerns include delayed project implementation, lack of necessary structures and enabling legislation to operationalise some funds. Duplication of some projects by different Government agencies, the reorganisation of Government and need for clarity on key deliverables of each MDA as well as the need to set up an emergency fund to repair all damaged roads and bridges across the country that have been ... view