James Mathenge Kanini Kega

All parliamentary appearances

Entries 391 to 400 of 959.

• 4 Mar 2021 in National Assembly: Hon. Speaker, we also have other recommendations underpinning the fiscal framework. With this regard, I want to report that the revenue target for the Financial Year 2021/2022 is not less than Kshs2.034 trillion and the ordinary revenue target is Kshs1.75 trillion. The fiscal deficit, including grants approved by Parliament for the Financial Year 2021/2022, is pegged at Kshs930 billion or 7.5 per cent of Gross Domestic Product (GDP). Any increase of the fiscal deficit beyond what has been approved in the Budget Policy Statement for the Financial Year 2021/2022 will not be approved by Parliament. We are doing this because ... view
• 4 Mar 2021 in National Assembly: The National Treasury should be consistent with the debt mix that ensures that there is low cost and minimise the risks. The net falling financing should be limited to Kshs530 billion while the net domestic finance is set at Kshs399.9 billion. view
• 4 Mar 2021 in National Assembly: I also want to move very quickly to the financial recommendations: THAT, the ministerial expenditure underpinning the programme for the Financial Year 2021/2022 be limited to not more than Kshs1.30 trillion for the recurrent expenditure and Kshs658.9 billion for development expenditure; view
• 4 Mar 2021 in National Assembly: THAT, the ceiling for the Parliamentary Service Commission and Judiciary be set at Kshs37.88 billion and Kshs17.91 billion respectively; view
• 4 Mar 2021 in National Assembly: THAT, the expenditure ceiling for the Financial Year 2021/2022 Budget be view
• 4 Mar 2021 in National Assembly: approved as per the attached Schedule II. These ceilings shall be binding. The National Treasury should prepare the Budget Estimates with these binding constraints. We have seen in the past where the BPS has absolutely no nexus or connection with the Budget Estimates. We have said categorically that the annual Estimates should be a replica or closely related to the BPS. THAT, having considered the unfunded request from the departmental committees amounting to Kshs240 billion, the Committee has identified critical expenditure needs that require urgent funding amounting to Kshs45.5 billion as per the attached Schedule 1. view
• 4 Mar 2021 in National Assembly: More importantly, any revenue raising measures contained in the financial year 2021/2022 Finance Bill shall also be earmarked to fund the aforementioned priority areas. Hon. Speaker, we had long deliberations. Moving from Kshs240 billion requests from the various departmental committees to Kshs45 billion was a lot of concession. So, we also put it as part of the wish list. THAT, county governments be allocated Kshs409.88 billion. This is a great improvement from the last financial year. Of course, the county government equitable share shall be Kshs370 billion moving from the current Kshs316 billion. THAT, the allocation of the Equalization Fund ... view
• 4 Mar 2021 in National Assembly: We also had recommendations on the Medium-Term Debt Management Strategy (MTDMS). On this one, I will just highlight a few of them. For avoidance of doubt, after consultation with the National Treasury, the Committee approved a debt mixed ratio of 57:43 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. view
• 4 Mar 2021 in National Assembly: domestic to external borrowing as provided for in the MTDMS. This strategy provides the optimal debt and is also consistent with the key provisions of Section 50 of the Public Finance Management (PFM) Act. Specifically, the law requires that the National Government shall ensure that its financing needs and payment obligations are met at the lowest possible cost in the market, which is consistent with the prudent risk of management while ensuring that the overall level of public debt is sustainable. We are impressed that, currently, the Government does not have a high appetite for commercial debt and it is ... view
• 4 Mar 2021 in National Assembly: Thank you very much, Hon. Speaker for being considerate of time. That is true, Hon. Speaker. Thank you very much, swanky chair emeritus, my good friend, Hon. Kimani Ichung’wah. That is also true. I want to make a correction on Financial Resolution III so that it is on record that it is consistent with a debt mix ratio that ensures a minimum risk and, therefore, the net foreign financing be limited to Kshs399.9 billion while the net domestic financing be set at Kshs530 billion. That is the correction and I want it to be on record. Hon. Speaker, on what ... view