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{
    "id": 556175,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/556175/?format=api",
    "text_counter": 223,
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    "speaker_name": "",
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    "content": "- reduce procedures, time and cost of starting a business, getting electricity and registering property by at least 80 per cent in 2016; - reduce procedures, time and cost of getting construction permits and paying taxes by 50 per cent and 60 per cent, respectively in 2016; and, - make it easy to access credit and to trade across borders. Hon. Speaker, the objective of financial sector reforms remains as stated in the Budget Policy Statement (BPS) - to create a robust, accessible, efficient, stable and a globally competitive financial sector that promotes mobilisation of high levels of savings to finance priority development. As a Government, we have been concerned by the high lending rates which inhibit credit uptake by the private sector. Therefore, to advise on how to increase lending to the private sector for economic growth and development, I constituted a high level Committee on the Cost of Credit and Constraints in Mortgage Finance. Some of the key recommendations arising from the Committee’s work which we shall continue to implement include:"
}