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{
    "id": 675939,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/675939/?format=api",
    "text_counter": 43,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Hon. Speaker, since you have allowed me to make some comments on this special Paper which I have just tabled, Sections 4 to 6 of the CBK Act requires the Cabinet Secretary for National Treasury to give notice of the price stability target in consultation with the CBK and highlight economic policies to be undertaken by the Government every 12 months. The Act also requires the Cabinet Secretary to lay a copy of the notice before the House. In this Paper, the Cabinet Sectary has highlighted two key issues. The first one is the price stability target for the Financial Year 2016/2017, which shall be an inflation rate of 5 per cent with a 2.5 margin in the event of adverse shocks either domestically or externally. Second, it is worth noting that if the inflation rate goes beyond 2.5 per cent margin, the CBK is expected to provide a written explanation of this to the National Assembly. Two, this notice is important for the purpose of improving the business environment, maintaining investor confidence and keeping the public apprised on inflation rates and the Government mitigating measures. I, therefore, request the Budget and Appropriations Committee and Departmental Committee on Finance, Planning and Trade to keep the House updated on the status of this matter as and when they engage the Cabinet Secretary. It was merely a comment, but I will allow the Member for Gem to make some comments on that."
}