33. Cabinet Secretary to submit national government debt management strategy to Parliament annually (1) On or before the 15th February in each year, the Cabinet Secretary shall submit to Parliament a statement setting out the debt management strategy of the national government over the medium term with respect to its actual liability and potential liability in respect of loans and guarantees and its plans for dealing with those liabilities.

(2) The Cabinet Secretary shall ensure that the medium-term debt management strategy is aligned to the broad strategic priorities and policy goals set out in the Budget Policy Statement.

(3) The Cabinet Secretary shall include in the statement the following information— (a) the total stock of debt as at the date of the statement; (b) the sources of loans made to the national government and the nature of guarantees given by the national government; (c) the principal risks associated with those loans and guarantees; (d) the assumptions underlying the debt management strategy; and 32 [Rev. 2020] Public Finance Management No. 18 of 2012 (e) an analysis of the sustainability of the amount of debt, both actual and potential.

(4) Within fourteen days after the debt strategy paper is submitted to Parliament under this section, the Cabinet Secretary shall submit the statement to the Commission on Revenue Allocation and the Intergovernmental Budget and Economic Council and publish and publicise the statement.

34. The National Treasury to provide Parliament with additional reports when required Either House of Parliament may request the Cabinet Secretary or the National Treasury to prepare and submit to that House a report on any matter relating to the Cabinet Secretary or National Treasury’s responsibilities as the House of Parliament may specify. National government budget process

35. Stages in the budget process (1) The budget process for the national government in any financial year shall comprise the following stages— (a) integrated development planning process which shall include both long term and medium term planning; (b) planning and determining financial and economic policies and priorities at the national level over the medium term; (c) preparing overall estimates in the form of the Budget Policy Statement of national government revenues and expenditures; (d) adoption of Budget Policy Statement by Parliament as a basis for future deliberations; (e) preparing budget estimates for the national government; (f) submitting those estimates to the National Assembly for approval; (g) enacting the appropriation Bill and any other Bills required to implement the National government’s budgetary proposals; (h) implementing the approved budget; (i) evaluating and accounting for, the national government’s budgeted revenues and expenditures; and (j) reviewing and reporting on those budgeted revenues and expenditures every three months.

(2) The Cabinet Secretary shall ensure public participation in the budget process provided for under subsection (1).

36. Cabinet Secretary to manage budget process at national level (1) The Cabinet Secretary shall manage the budget process at the national level.

(2) Not later than the 30th August in each year, the Cabinet Secretary shall issue to all national government entities a circular setting out guidelines on the budget process to be followed by them.

(3) The circular shall include— (a) a schedule for preparation of the budget indicating key dates by which various exercises are to be completed; 33 No. 18 of 2012 Public Finance Management [Rev. 2020] (b) the procedures for the review and projection of revenues and expenditures; (c) key policy areas and issues that are to be taken into consideration when preparing the budget; (d) procedures setting out the manner in which members of the public shall participate in the budget process; (e) the format in which budget information and documents shall be submitted; and (f) any other information that, in the opinion of the Cabinet Secretary, may assist the budget process.