The IMF has asked Parliament to tighten its oversight role on use of public funds at national and county government levels, lest the country loses momentum in economic growth.
He asked Parliament to ensure use of "all public funds" is subjected to the existing legal and budgetary framework through accountability to the public.
"You must protect the republic against (budgetary) leakages," Macagni told speakers
"Deciding the most important priorities is up to the Parliament. You need to know and be informed periodically on these resources to ensure they are well accounted for."
Referring to a quarterly report by the
Macagni said this was contrary to the Public Finance Management Act 2012 that roots for at least 30 per cent of the total budget be spent on development projects.
The CoB report also revealed that spending on travel, entertainment and new vehicles by the national government stood at Sh7.4 billion contrary to a
This included Sh1.58 billion on foreign travels, Sh3.59 billion on domestic travels, Sh1.32 billion on hospitality and Sh885.76 million on new vehicles.
Members of county assemblies have been castigated for spending an estimated Sh2 billion on foreign trips alone - a matter that the Senate's
Ethuro however said that the Senate would only act on under-spending on development at the counties after the Controller of Budget Agnes Odhiambo releases a report for the full fiscal year to
"As Senate, we are equally concerned especially on travels abroad because the country has all the resources that the counties are going to seek in other countries," he said.
"But as regards development expenditure, we have to wait for the full-year report rather than rely on an interim report covering only up to March."
Macagni advised that counties should be barred from engaging in public-private partnerships without the approval of the National Treasury just as is the case in seeking funds through debt instruments. "PPPs are very complex arrangements that if you don't have capacity, you can easily be taken for a ride," he said.
Most Popular Stories
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Stop-Start Engines Save Gas, Reduce Emissions
- Ohio State Band Chief Fired After Probe
- Hispanic Leader Goes the Extra Mile
- Ukraine Says Russians Firing Across the Border
- Ford Q2 Net Profit up 6 Percent
- Jennifer Lopez, Pitbull to Perform at Fashion Rocks
- Ricky Martin Joins 'The Voice ... Mexico'
- U.S. Weighs Refugee Status for Immigrant Kids
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges