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"speaker_name": "Mr. Mbau",
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"legal_name": "Elias Peter Mbau",
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"content": "On behalf of the Committee and its Members, I now have the honour and pleasure to present this report of the Budget Committee on the Budget Policy Statement for 2012/2013 and the Medium-Term to this House as well as initiate debate with a view to adopting this report which is expected to be considered and incorporated in the final preparation of the Budget proposals to be adopted later this year. Let me move and restate the purpose of the Budget Policy Statement. This Statement is a broad macro-economic strategy on issues that inform budgeting in the next financial year and the Medium-Term. The Budget Policy Statement includes an assessment of the economy in the current financial year, projected state of the economy in the Medium-Term, the macro-economic and fiscal policies for the period and the criteria for resource allocation among specific programmes, including outputs expected from each of those programmes. Given the various challenges facing our economy during this transition period, both internally and externally, the Budget Policy Statement, 2012, seeks to consolidate and sustain inclusive economic growth by restoring and maintaining macro-economic stability and focusing on economic policies and structural reforms aimed at removing hurdles to higher growth while facilitating private sector to expand its business, promote productivity and build resilience necessary for employment creation and poverty reduction."
}