Eng Mohammed Maalim Mahamud

All parliamentary appearances

Entries 661 to 670 of 2205.

• 27 Feb 2019 in Senate: Mr. Deputy Speaker, Sir, inflation in this country has been reported to be averaging in 6.9 per cent in the last three years. Mr. Deputy Speaker, Sir, on the Fiscal Policy, BPS says there will be fiscal consolidation as one of the key objectives for 2019/2020 budget policy. It entails the Government tightening its belt through expenditure cuts as tax increments are not favourable option for the economy. While this is commendable, the challenge will be in maintaining a contractually fiscal path given the prevailing expenditure pressures that mostly increase the current expenditures and reduce development expenditures. As earlier said, ... view
• 27 Feb 2019 in Senate: Mr. Deputy Speaker, Sir, on county expenditures, the total approved county budgets for the Financial Year 2017/2018 amounted to Kshs410 billion; made up of Kshs271 billion (66 per cent) for recurrent expenditure and Kshs139.81 billion (34 per cent) for development expenditure. In aggregate terms, this level of approval complied with the fiscal rules, stipulating that 30 per cent of the total county allocation is towards development. However, the actual county expenditures performance translated to only 74 per cent of the approved budget. That is lack of absorption. The expenditure level is also lower compared to the previous financial years, 2016/2017 ... view
• 27 Feb 2019 in Senate: Mr. Deputy Speaker, Sir, in view of the actual expenditures, compliance to fiscal rules deteriorated during the budget execution, perhaps due to reallocation and virement of allocation between programmes towards recurrent expenditure. view
• 27 Feb 2019 in Senate: According to the Controller of Budget, county governments’ total pending bills as of 30th June, 2018 stood at Kshs108.41 billion. This translates to an average of 36 per cent of the 2017/2018 Financial Year equitable share of the counties. This is as compared to the cumulative pending bill of Kshs35.84 billion as at the end of the Financial Year The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate. view
• 27 Feb 2019 in Senate: 2016/2017, thus an increase by approximately 202 per cent between the financial years 2016/2017 and 2017/2018. view
• 27 Feb 2019 in Senate: Mr. Deputy Speaker, Sir, on the vertical allocation between the national Government and county governments, for the Financial Year 2019/2020, the Budget Policy Statement (BPS) proposes a reduction in the county equitable share to Kshs310 billion from the Kshs314 billion which we have in this year provided for in The Division of Revenue Act, 2018. In addition, the total conditional grant is proposed to be at Kshs61.6 billion, of which Kshs38.7 billion is from grants and loans from development partners. view
• 27 Feb 2019 in Senate: Mr. Deputy Speaker, Sir, on the Medium Term Debt Management Strategy for the Financial Year 2019/2020, it is proposed that a borrowing framework of 38 per cent from external borrowing and 62 per cent from domestic borrowing to finance the national budget deficit. The external debt will be financed through 26 per cent from concessional financing, eight per cent from semi-concessional financing and four per cent from commercial financing. view
• 27 Feb 2019 in Senate: Mr. Deputy Speaker, Sir, there is the issue of the rising debt level. As at the end of December, 2018 the level of debt, in nominal terms, reached Kshs5.28 trillion, making up 52.7 per cent of the Gross Domestic Product (GDP), having risen by 13 per cent or Kshs698.4 billion, from Kshs4.57 trillion in December 2017. The debt growth is set to continue and reach Kshs5.7trillion and Kshs6.3 trillion as at the end of the 2018/2019 and 2019/2020 financial years respectively. view
• 27 Feb 2019 in Senate: The rising debt levels lead to increased debt refinancing requirements and interest payments that shrink the fiscal space in the forward years. We saw the Cabinet Secretary in charge of the National Treasury trying to syndicate funding to finance the debt. view
• 27 Feb 2019 in Senate: Mr. Deputy Speaker, Sir, the domestic debt comprising of Treasury bills and bonds is worth Kshs.899.40 billion and Kshs1.55 trillion respectively. Treasury is borrowing from the local market and this is, in fact, crowding out the private sector. This is a serious concern because the available finance is being taken up by the National Treasury. In fact, this year, they have said that they will borrow 62 per cent locally. Sometimes, financing from outside the country can be cheaper. The private sector public Debt Sustainability Analysis (DSA) framework that evaluates a country’s capacity to finance policy agenda indicates that the ... view