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{
    "id": 1266690,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1266690/?format=api",
    "text_counter": 290,
    "type": "speech",
    "speaker_name": "Kitui Central, WDM",
    "speaker_title": "Hon. (Dr) Makali Mulu",
    "speaker": null,
    "content": "Hon. Temporary Speaker, the Committee noted that the House made resolutions on CFS expenditures based on these recommendations and as part of the follow up of the implementation. For the Financial Year 2023/2024, the Committee has come up with the following set of recommendations based on the consultative engagements held: 1. In line with the financial consolidation plan, any in-year adjustment in the Financial Year 2023/2024 Budget Estimates undertaken by National Treasury should be within the approved Financial Year 2023/2024 fiscal deficit limit of 4.4 per cent of Gross Domestic Product (GDP) in order to mitigate against unplanned borrowing. That is what the House approved. 2. In line with the House resolutions on the Medium-Term Debt Management Strategy, in the Financial Year 2023/2024, the National Treasury should adhere to the approved 50:50 mix of domestic to external borrowing. Any deviation in funding strategy should be approved by the National Assembly. 3. Fifteen days after the end of each quarter in each financial year, the National Treasury should submit to the National Assembly a quarterly report on the status of all CFS expenditures indicating actual expenditures compared to the budgeted ones. 4. That for any in-year CFS expenditure adjustments as well as budget cycles going forward, the National Treasury should report the overdraft facility, as well as all expenditures related to guaranteed debt as separate and substantive components of public debt servicing expenditures and not under the salaries and allowances components of the CFS. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}