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{
    "id": 1491960,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1491960/?format=api",
    "text_counter": 94,
    "type": "speech",
    "speaker_name": "Sen. Mutinda",
    "speaker_title": "",
    "speaker": {
        "id": 13206,
        "legal_name": "Boniface Mutinda Kabaka",
        "slug": "boniface-mutinda-kabaka-2"
    },
    "content": "1. In consultation with the Parliamentary Budget Office (PB0) to independently undertake the audit of the national debt and present the actual status to Parliament. 2. Engage the National Treasury to submit a roadmap on its strategies to reduce the public debt to not more than 55 percent of the Gross Domestic Product (GDP) in present value terms, in compliance with section 52(c) of the Public Finance Management (PFM) Act, Cap 41. 3. Engage the National Treasury to identify and implement sustainable strategies to reduce the high cost of living. Mr. Speaker, Sir, the Committee is seized of the matter and in addition to this Resolution of the Senate, the Committee has received the following documents from the National Treasury- 1. Revised 2024 Medium-term Debt Management Strategy (MDBMS); 2. A report on loans contracted by the Government from 1st May to 31st August, 2024. To effectively deal with the matter and table a comprehensive report, the Committee tasked the PBO to scrutinize the public debt registry reports on newly contracted loans and the revised 2024 MDBMS. The Committee has scheduled a meeting on the 7th November, 2024 to be appraised by the PBO on the progress and the status of analysis of the aforementioned documents. Mr. Speaker, Sir, consequently the Committee will invite the relevant stakeholder, that is the National Treasury and Economic Planning to appraise the Committee on the current stock of public debt strategies put in place to ensure that public debt remains sustainable and does not exist the threshold provided for under PFM Act Cap 41. Lastly, the Committee will table a comprehensive report in the Senate for consideration including its recommendations. I thank you."
}