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{
    "id": 1047508,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1047508/?format=api",
    "text_counter": 69,
    "type": "speech",
    "speaker_name": "Hon. Lusaka",
    "speaker_title": "The Speaker",
    "speaker": null,
    "content": " Hon. Senators, I have a Communication to make. Hon. Senators, as you may have noted, the Senate Majority Leader has tabled the Budget Policy Statement (BPS) for the Financial Year 2021/2022. Section 25 of the Public Finance Management Act and Standing Order No.180 of the Senate, require the National Treasury to prepare and submit the BPS to Parliament by the 15th February each year. By a letter Ref: Conf.MOF83/02TY5/30 dated 11th February, 2021, and received in the office of the Clerk on 11th February, 2021, the Cabinet Secretary for the National Treasury and Planning submitted the following documents for consideration and approval by Parliament- (a) The Budget Policy Statement, 2021; (b) The Medium Term Debt Management Strategy, 2021; (c) The Draft Division of Revenue Bill, 2021; and, (d) The Draft County Allocation of Revenue Bill, 2021. Hon. Senators, the BPS is an important tool as it sets out the broad strategic priorities and policy goals that will guide the national Government and county governments in preparing their budgets before the following ffinancial year and over the medium term. It contains, among other things- (1) An assessment of the current state of the economy and the financial outlook over the medium term, including the macro-economic forecasts; (2) The financial outlook with respect to Government revenues, expenditures and borrowing for the next financial year and over the medium term; (3) The proposed expenditure limits for the national Government, including those of Parliament and the Judiciary and indicative transfers to county governments; (4) The fiscal responsibility principles and financial objectives over the medium term, including limits on total annual debts and the proposed division of revenue, including proposed conditional grants, if any. 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."
}