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{
    "id": 1525053,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1525053/?format=api",
    "text_counter": 990,
    "type": "speech",
    "speaker_name": "Uasin Gishu County, UDA",
    "speaker_title": "Hon. Gladys Boss",
    "speaker": null,
    "content": "operational, we will be operating on an accrual system and a zero-based budgeting, which will ensure that all our debts go through the digital system. That way, transactions will be tightened to ensure that we do not have any more losses of monies that we borrowed. They also gave an undertaking to report to Parliament within 15 days of implementation to give us a register of all debts, showing how much the debts are, how much money they will be using to service the debts, and how much of the debts were used on which project. As Parliament, this will give us an opportunity to interrogate them and see where there is no good use of borrowed money, so that the same does not happen the following year. They also gave us the undertaking that they will not make any variation of the Medium-Term Debt Management Strategy without coming to Parliament first. These assurances paint a much more positive outlook than we have ever had. In the last Parliament, we were not in this position. It was a back and forth all the time with the National Treasury. I remember when Hon. Ukur Yatani was the Cabinet Secretary for the National Treasury, my Committee had altercations with him because he could not disclose how much was owed. He finally said he would come back and bring the information to us in 14 days’ time but he never brought the information. Right now, there is progress. There was a full disclosure of what our revenues and deficit are, and that they are borrowing to cover the deficit. They have also done something that will make things improve. First of all, they have not negotiated the eighth review with the International Monetary Fund (IMF). That might change. We might have some more concessional loans that will bring down our repayment levels. They also said there is still an opportunity to increase our revenue. They have given a much underestimated revenue projection because they said they do not want to make the mistake that was made last time, where we had a very ambitious revenue projection that was not met and then we got stuck. Hon. Temporary Speaker, as I said, I feel much more confident about the fiscal health of our economy. With those remarks, I beg to reply."
}