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{
    "id": 946990,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/946990/?format=api",
    "text_counter": 214,
    "type": "speech",
    "speaker_name": "Uasin Gishu CWR, JP",
    "speaker_title": "Hon. (Ms.) Gladys Boss Shollei",
    "speaker": {
        "id": 13278,
        "legal_name": "Gladys Jepkosgei-boss Shollei",
        "slug": "gladys-jepkosgei-boss-shollei"
    },
    "content": "Hon. Speaker, these regulations were published on 1st October 2019 and tabled before this House on the same date as is required by the Statutory Instruments Act. The principal object of the Public Finance Management (National Government) Regulations, 2019 is to provide clarity in terms of controls and timely oversight mechanism on the growth of public debt. The reason for the latter is to ensure the monitoring of public debt as a percentage of the Gross Domestic Product makes it difficult to enforce compliance and undermine accountability. For this reason, it was preferred that we provide a numerical limit to the total public debt to Kshs9 trillion in place of the current 50 per cent of the GDP in net value terms. The regulations seek to provide adequate borrowing space to cater for potential guarantees for borrowing by county governments and State-owned enterprises."
}