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{
    "id": 761414,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/761414/?format=api",
    "text_counter": 1215,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "This Committee observes that the changes in the development Budget and with respect to the ongoing projects, some of which have contractual obligations, if breached, this could lead to payment of penalties as well as slowing down the completion of the projects. At some points, this could lead to stalling of some projects. Furthermore, disruption of expenditure allocations midway means that there may be deferred payments leading to pending bills at the end of the financial year. Pending bill, being priority payments in the Government spending, further reduces available development-oriented resources, while necessitating special audits within the year to ascertain their nature. It means that when there is disruption of development expenditure, there will be a lot of pending bills which will form priority payments in the next financial year. Therefore, it will narrow the available resources for further development. The benefit of development spending over recurrent is that it is more likely to generate higher returns in the long-run by increasing production capacity of economy and more sustainable growth, as opposed to Recurrent Expenditure. Revising the development Budget downwards in the course of the year can lead to lower contribution of the development Budget towards sustainable economic development. This also points to the possibility that at the end of the year, the development Budget will constitute less than 30 per cent of the implemented Budget, as provided for in the PFM law."
}