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{
    "id": 1077011,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1077011/?format=api",
    "text_counter": 217,
    "type": "speech",
    "speaker_name": "Suba South, ODM",
    "speaker_title": "Hon. John Mbadi",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "projecting a collection of Kshs1,776,000,000,000 in the next financial year is not being overambitious. However, I still want to repeat that we are in what I have been terming as hakuna pesa economy. There is still a challenge as to whether we are able to finance our Budget. We are not able because the amount of money that we pay debtors is Kshs1.2 trillion against a possible revenue collection of Kshs2 trillion. If we spend Ksh1.2 trillion on debt repayment alone and interests, that is a sad state. Besides that, the Recurrent Expenditure is of an equal amount: Ksh1.2 trillion. The total comes to Ksh2.4 trillion. Already, we have consumed the entire Budget or the entire projected revenue which therefore means, as I have always said, that as a country we need to say the truth that we are borrowing money to meet Recurrent Expenditure. That is against the Constitution and the Public Finance Management Act. It is immoral. It is unjust and unfair to the future generation. What we are doing to the future generation of this country is that we are not creating assets for them to generate revenue, yet we are putting a debt burden on them."
}