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{
    "id": 1524928,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1524928/?format=api",
    "text_counter": 865,
    "type": "speech",
    "speaker_name": "Uasin Gishu County, UDA",
    "speaker_title": "Hon. Gladys Boss",
    "speaker": null,
    "content": "entities, the National Treasury should deploy a Treasury Single Account (TSA) for all Ministries, Departments and Agencies (MDAs) by 1st July 2025. This will be revolutionary in our financial management, governance, transparency and accountability in public debt management. This is the first time this is happening. We were informed that many MDAs and parastatals do not want this system because of its great transparency and accountability. 5. That, to improve transparency and accountability in the anticipated increase in domestic borrowing, the Cabinet Secretary for the National Treasury and Economic Planning should do the following within 60 days— (a) Form a working committee to establish criteria for assessing the effectiveness of utilisation of borrowed funds by MDAs, establish a registrar of government securities pursuant to Section 55 of the PFM Act, 2012. (b) To record in the debt register the details of the utilisation of the borrowed funds, including the set of projects funded from the proceeds of infrastructure bonds. 6. That, the Cabinet Secretary for the National Treasury and Economic Planning should establish an inter-agency committee including representatives from the Central Bank of Kenya and the Controller of Budget to review the public debt procurement process, debt utilisation and submit a report to the National Assembly by 31st May 2025. 7. The Cabinet Secretary for the National Treasury and Economic Planning shall report and seek approval from the National Assembly on any variation to the approved borrowing mix in the 2025 MTDS which we have submitted now. The financial recommendation are as follows: 1. That, the fiscal target for the Medium-Term is approved and set at 4.3 per cent of GDP for Financial Year 2025/2026; 3.5 per cent of GDP for the Financial Year 2026/2027 and 3.2 per cent of GDP for the Financial Year 2027/2028, in line with the fiscal consolidation path. 2. That, the country’s borrowing strategy is approved at 35 per cent for net external borrowing and 65 per cent for domestic borrowing as contained in the 2025 MTDS. Finally, I thank the House for giving the Liaison Committee the responsibility of considering the MTDS. It was a unique opportunity for chairpersons of various committees to appreciate the state of the economy regarding the constrained fiscal space since it affects various programmes that require financing in all sectors. As I said earlier, the Committee was very diligent and worked up to 10.00 p.m. the night before and midnight last night. Thank you, Hon. Temporary Speaker. I beg to move and request Hon. Wangari, Member for Gilgil and Vice-Chairperson to second."
}