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{
    "id": 870736,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/870736/?format=api",
    "text_counter": 34,
    "type": "speech",
    "speaker_name": "Hon. Lusaka",
    "speaker_title": "The Speaker",
    "speaker": null,
    "content": " Order, Senators. I have a Communication to make. As you may be aware, Section 25 of the Public Finance Management Act requires the National Treasury to prepare and submit the Budget Policy Statement to Parliament by the 15th February each year. In this regard, by a letter Reference Number Conf/MOF83/02TY.5/(86) dated 14th February, 2019 and received in the Office of the Clerk on 14th February, 2019, the Principal Secretary for the National Treasury submitted the following documents for consideration and approval by Parliament- (a) The Budget Policy Statement, 2019; (b) The Medium Term Debt Management Strategy, 2019; (c) The Draft Division of Revenue Bill, 2019; and, (d) The Draft County Allocation of Revenue Bill, 2019. Consequently, Hon. Senators, I will allow the Chairperson of the Standing Committee on Finance, Commerce and Budget to formally table these documents. Hon. Senators, the Budget Policy Statement is an important tool as it sets out the broad strategic priorities and policy goals that will guide the national Government and county governments in preparing their budgets both for the following Financial Year and over the medium term. It contains, among other things- (i) an assessment of the current state of the economy and the financial outlook over the medium term, including the macro-economic forecasts; (ii) the financial outlook with respect to Government revenues, expenditures and borrowing for the next financial year and over the medium term; (iii) the proposed expenditure limits for the national government, including those of Parliament and the Judiciary, and indicative transfers to county governments; and (iv) the fiscal responsibility principles and financial objectives over the medium term, including limits on total annual debt. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}