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{
    "id": 625801,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/625801/?format=api",
    "text_counter": 455,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Five, that this House notes the additional requests for critical expenditures as shown in Schedule II of the Constitution that are unfunded and directs the National Treasury to find the resources within the framework as adopted in the BPS 2016/2017. On the issue of the medium term debt management strategy, the Committee feels that this House should approve the debt management strategy underpinning the 2016/2017 Budget. The approved shall remain binding for the 2016/2017 Financial Year and any change in strategy must be approved by this House. Secondly, the National Treasury should provide details on which projects, both ongoing and earmarked projects by sector, are to be implemented using the projected debt resources during the annual estimates. Third, the Medium Term Debt Management Strategy (MTDS) should be realigned to the broad strategic priorities and policy goals set out in the BPS as required by the Public Finance Management Act to ensure that there is credibility of the debt strategy being pursued by the Government. Fourth, that the Government pursues debt policies that are aimed at achieving fiscal consolidation and efficiency in revenue allocation intended to achieve a balanced Government budget. Lastly, on policy recommendations, the first one is that the National Treasury initiates a comprehensive assessment of the existing projects and provides the Legislature with a plan of action of how the said projects are going to be completed within the current and the medium term resource framework. All the expenditure adjustments in form of supplementary budgets should be done on or before April of any given year. This will assist in addressing the issue of pending bills, occasioned by late approvals of the Supplementary Appropriation Bill. Secondly, the National Treasury should endeavour to issue guidelines on foreign travel and domestic travel that supports the objective of reducing wastage while, at the same time, maintaining the purpose and objectives of such activities. With those few remarks, I beg to move. I request the House to approve the Report on the Budget Policy Statement, 2016 and the Medium Term Debt Management Strategy 2016."
}