Ndindi Nyoro defends ‘expensive’ budget
Kiharu lawmaker Ndindi Nyoro has defended the government’s decision to substiatially raise the budget for the fiscal year 2023/24 from Sh3.39 trillion to Sh2.678 trillion.
The vocal lawmaker, who doubles up as the Chairman of the National Assembly Budget Committee, explained that the increase is aimed at plugging the gaps to sustain the increased expenditure by the government.
The MP, who is known to be a close ally of President William Ruto, made the remarks in a media interview prior to the parliamentary budget reading.
He highlighting the optimistic projections that have been made by allocating funds to various sectors of the economy.
The youthful lawmaker further stated that a significant budget allocation has been dedicated to the growth of agriculture with an eye on enhancing the agricultural sector’s development and potential.
Additionally, substantial funds have been assigned to secondary production, specifically the industrial sector.
This move is expected to stimulate industrial growth and contribute to overall economic expansion.
“The reason the government is increasing the budget is because of how bad the economy is, if things are the way they are, the government must increase its expenses. That is one way of building the economy,” He added
In line with efforts to boost the economy, funds have also been allocated to bolster the export sector.
The government aims to enhance export activities, thereby generating foreign exchange and increasing international trade. Furthermore, measures have been put in place to revitalize the mining industry, with the anticipation of a considerable boost in this sector. The government recognizes the potential of the mining industry to contribute significantly to economic growth.
Mr. Nyoro further highlighted the implementation of policies aimed at promoting the development of the fisheries sector. This signifies the government’s commitment to diversifying the economy and exploring untapped potential in different industries.
“We are prioritizing the growth of agriculture, with a substantial budget allocation. Similarly, significant funds have been assigned to secondary production, namely the industrial sector. Additionally, we have allocated funds to bolster the export sector and to revitalize the mining industry, as we anticipate a significant boost in this sector. Furthermore, we have implemented policies to promote the development of the fisheries sector,” he said.
The government’s move to prioritize key areas reflects a proactive approach to address the economic crisis.
By investing in agriculture, secondary production, exports, mining, and fisheries, the government aims to lay the foundation for sustainable economic recovery and future prosperity.
Also read: Tout charged with stealing Sh160,000 from motorist’s M-Pesa account