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{
    "id": 517493,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/517493/?format=api",
    "text_counter": 181,
    "type": "speech",
    "speaker_name": "Hon. Musyimi",
    "speaker_title": "",
    "speaker": {
        "id": 95,
        "legal_name": "Mutava Musyimi",
        "slug": "mutava-musyimi"
    },
    "content": "Further, the Budget Policy Statement does not clearly indicate the status of the output and the key targets that were supposed to be achieved in the 2014/2015 financial year probably due to lack of a clear framework on monitoring and evaluation. Thirdly, as we talk about compliance and time constraints, the National Treasury needs to give us this document earlier. We have said this before. We are working under pressure cooker conditions to get this document ready. I thank you for indulging us in giving us a bit more time so that we can prosecute this matter today. It is important that in future, this document comes to the Floor of the House earlier. It might even be necessary for us to amend the Public Finance Management Act to give more room for the deliberations that are obviously crucial. I do not think two or three weeks is sufficient. Hon. Speaker, with respect to synergy between the National Government and the county governments, it is important to remind ourselves that for our country to enhance economic transformation for a shared prosperity, the linkage between the strategic priorities as contained in the Budget Policy Statement and the County Fiscal Strategy Paper is absolutely crucial. The Public Finance Management Act requires that counties align their County Fiscal Strategy Papers with the national development objectives contained in the Budget Policy Statement. My Committee notes that even though this is anchored in law, the mechanism of ensuring that all counties align their development strategies to those at the national level is unfortunately lacking. It is therefore crucial that this matter be taken to heart and be given serious attention by the National Treasury. With respect to macro-economic stability, similar to the 2014 Budget Policy Statement, the current Budget Policy Statement aims at continuing strengthening the revenue effort, containing the growth of total expenditure while shifting composition of the expenditure from recurrent to capital expenditure as well as eliminating unproductive expenditures; maintaining a low rate of inflation of around 5 per cent via prudent monetary policy, strengthening the international reserves positions to over 4.5 months of import cover, and delivering low and stable interest rates and exchange rates. Hon. Speaker, my Committee notes that despite proposals in the 2014/2015 Budget Policy Statement to contain total expenditure while shifting the composition of The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}