THE STANDARD
BUSINESS
National Assembly s Committee on Budget and Appropriations chairperson Kanini Kega. [Kelvin Karani, Standard]
Members of Parliament have agreed to some of the tough conditions set by the International Monetary Fund (IMF) including the scrapping of tax breaks and exemptions.
In a report by the Budget and Appropriations Committee on the Budget Policy Statement for 2021-22 and the Medium Term Debt Management Strategy, the lawmakers also asked the National Treasury to expedite restructuring of highly indebted State corporations, a condition that had earlier been issued by the IMF for the country’s access to a Sh262 billion facility.
THE STANDARD
POLITICS
National Assembly s Committee on Budget and Appropriations Chair Kanini Kega. [Kelvin Karani, Standard]
Parliamentary Committee on Budgetary Allocation and Appropriation will factor in the cost of conducting the Building Bridges Initiative (BBI) referendum.
The committee said the year’s budget will focus on reduction of the soaring public debt and deficit.
National Assembly Majority Leader Amos Kimunya yesterday expressed his confidence that BBI will sail through and said the referendum will be factored in the budget of the 2021/22 Financial Year.
Kimunya said the referendum will either be funded upfront or through a rationalised process.
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He dismissed claims made by a faction of politicians that the Big Four Agenda has been abandoned to pave way for BBI.