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{
    "id": 1051967,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1051967/?format=api",
    "text_counter": 204,
    "type": "speech",
    "speaker_name": "Sen. Halake",
    "speaker_title": "",
    "speaker": {
        "id": 13184,
        "legal_name": "Abshiro Soka Halake",
        "slug": "abshiro-soka-halake"
    },
    "content": "not consolidating the right things. There are no Public Private Partnerships (PPPs) that are being looked at instead of having--- That remains a concern. Reduction of public wage bill has not been looked at. Yes, many people are going to be retiring this year, but we need more in terms of reduction of public wage bill. What country are we running if the recurrent expenditure is 76 percent going to 80 percent? Mr. Temporary Speaker, Sir, we have been told the debt will decline by 6.2 percent to Kshs937 billion from the public debt requirement. However, looking at the mix 37 percent is foreign debt while 63 percent is domestic debt. It is crowding out the private sector and is going to undermine the economic growth of the country because the banks will just give to the Government securities that give better returns on the investment. How do we do commercial borrowing for recurrent expenditure of 76 percent? If we borrow commercially for investment in development expenditure that has a higher return on our investment more than the charged market rate, then it makes sense. I have not seen any such initiative for the economic growth of the country."
}