𝗠𝗼𝗻𝗱𝗮𝘆, 𝗠𝗮𝗿𝗰𝗵 𝟰𝘁𝗵 𝟮𝟬𝟮𝟰

The National Assembly is set to debate the Report of the Medium Term Debt Management Strategy that will be tabled by the Public Debt and Privatization Committee  this week 

The Public Debt and Privatization Committee has proposed several policy and financial resolutions to address concerns about rising domestic interest rates, public borrowing projections, and adherence to debt limits.

Among resolutions the Public Debt Committee has proposed is for the National Treasury to ensure that the fiscal deficit and  public borrowing projections are realistic by factoring in potential fluctuations in interest rates, exchange rates, and contingency spending.

To address rising domestic interest rates and payments, the Committee has recommended that within 60 days of adoption of the Report, the National Treasury submits a report to the National Assembly providing practical measures to reduce the domestic debt service burden to sustainable levels.

  If adopted by the House, the Report of the Committee on the 2024, Budget Policy Statement, the National Treasury will be expected to publish guidelines that will ensure that the Treasury Single Account is established and operational by July 1st, 2024.

On public participation in debt matters  the Committee recommending the Treasury publish simplified, citizen-friendly documents alongside technical reports submitted to the Assembly.

Should the House approve the Report, the National Assembly will have power to pre-approve any deviations from the medium-term fiscal deficit path and any resulting adjustments to loan financing.

The proposed resolutions also recommend approval of the fiscal deficit target for the medium term, set at 3.9% of GDP for FY 2024/25, gradually decreasing to 3.3% in subsequent years, aligning with the outlined fiscal consolidation path.

For details on the policy and financial resolutions 

http://www.parliament.go.ke/the-national-assembly/house-business/order-paper