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"speaker_name": "Hon. Musyimi",
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"content": "Hon. Temporary Deputy Speaker, with regard to fiscal policy and Budget framework, allow me to say the following: The Government targets to achieve fiscal consolidation by putting in measures to reduce the Budget deficit from 8.9 per cent of the Gross Domestic Product (GDP) in 2013/2014 to 6.3 per cent of GDP in 2014/2015 and 4.9 per cent of GDP in 2016/2017. It will be done by bringing down debt-to-GDP ratio to below 50 per cent in medium term while increasing absorption of external resources from 60 per cent to 80 per cent by reforming the procurement law. My Committee observes that in the previous BPS, the Government has consistently laid plans for achieving targets. However, achieving this target has proved elusive. Indeed in 2014, the BPS still attempts to do this by proposing expenditure containment while at the same time increasing revenue collection. I think we have made this point and I rest my case on that."
}