Fiscal Consolidation measures bear fruit, bring financial discipline: report
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The Finance Division has adopted facilitative policy of release of funds to meet the expenditures
ISLAMABAD (Dunya News) – The Fiscal consolidation measures taken by the government have resulted in financial discipline, higher revenues and controlled expenditures, according to Mid-Year Budget Review Report for the fiscal year 2020-21.
“The same strategy will be followed during the remaining period of the CFY (current financial year) to achieve the fiscal sustainability,” the report published by the finance ministry said.
According to the report, the continuity in fiscal consolidation, stable exchange rate, improved current account and better financial management, presents a promising economic outlook.
The federal government has reported its half-year (July-December) fiscal deficit at 3.1 per cent of GDP, or the highest-ever figure of Rs1.393 trillion in absolute terms. AFP/File
ISLAMABAD: Highlighting certain risks to fiscal sustainability, the federal government has reported its half-year (July-December) fiscal deficit at 3.1 per cent of GDP, or the highest-ever figure of Rs1.393 trillion in absolute terms.
In its mid-year Budget Review Report submitted to the parliament as required under the Public Finance Act, 2019, the Ministry of Finance on Monday claimed credit for higher revenues, controlled expenditures amid fiscal consolidation measures but conceded that there were “certain risks to fiscal sustainability”.
The Children Bill 2020 among 14 approved by Cabinet
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The Cabinet has considered and approved the Children Bill, 2020, among 14 bills sent to the National Assembly.
The Bill seeks to address the increased vulnerability of children in Kenya. Broken families and community systems have been associated with the increased vulnerability of children.
The Cabinet meeting chaired by President Uhuru Kenyatta, approved the bill, in an effort to promote the wellness of the country while being mindful of the the family’s position as the basic unit of the society.
The Cabinet noted that the curriculum reforms being instituted under the stewardship of the Ministry of Education will enhance the opportunities available to children in Kenya.
Debt burden weighs heavily on Zimbabwe thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.
MPs to raise Sh9trn debt cap for extra borrowing
Friday February 26 2021
By EDWIN MUTAI
Summary
Parliament will enlarge the debt ceiling currently set at Sh9 trillion to accommodate Treasury’s borrowing for development spending, Majority Leader Amos Kimunya has said.
Mr Kimunya said the National Assembly will look at the reasons behind the Treasury’s proposal to increase the statutory debt ceiling and act accordingly once the request is tabled in the House.
Parliament will enlarge the debt ceiling currently set at Sh9 trillion to accommodate Treasury’s borrowing for development spending, Majority Leader Amos Kimunya has said.
Mr Kimunya said the National Assembly will look at the reasons behind the Treasury’s proposal to increase the statutory debt ceiling and act accordingly once the request is tabled in the House.