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{
    "id": 1077037,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1077037/?format=api",
    "text_counter": 243,
    "type": "speech",
    "speaker_name": "Garissa Township, JP",
    "speaker_title": "Hon. Aden Duale",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Hon. Speaker, you know they say if people are dying of malaria do not blame the mortician. If people are dying of malaria do not blame the mortician, blame yourself; blame the doctor or blame the pharmacist. I have seen people blaming the President. I have seen people blaming the National Treasury on all this audit. The 2010 constitutional architecture gave this august House all the powers in as far as the budget-making process is concerned. In as far as the management of debt and finances of our country are concerned… I looked at this Report last night and I can confirm that the Budget is Kshs3.6 trillion. The National Executive is getting Kshs1.89 trillion, Parliament is getting Kshs46 billion, Judiciary is getting Kshs17 billion and county governments are getting Kshs370 billion. Look at what we call the Consolidated Fund Services and that is where the devils is. The Consolidated Fund Services has a budget of Kshs1.3 trillion, with Kshs1 trillion going to service debt. I want to inform Members, when you have free time read how countries like Greece have suffered under serious debt crisis. We must stand up. Look at the quality of investment in this Budget. Before we pump money into any project or investment, we must assess the quality of that investment to the people of Kenya and to the economy. I have seen the Report. Stalled projects are to the tune of Kshs8 trillion. Clearly in this country it is like every shilling we collect, every Kshs100 that the Kenya Revenue Authority collects, Kshs66 go to service debt. Let me bring the matter home. If I earn Kshs200,000 I cannot budget for an expenditure of my family of Kshs1 million. I say I earn Kshs200,000 and I want my family to have an expenditure of Kshs1 million. That is exactly what is happening here. Our problem of debt is not in fact the borrowing, our problem of debt is the deficit year in, year out. Furthermore, I think Hon. Kanini Kega if you look at the previous budget committee reports you will see the problem is that, the moment we have a huge debt deficit from Kshs500 billion, Kshs600 billion, today we are close to Kshs1 trillion… The moment you have a deficit then you will be forced to borrow. Where are we borrowing? According to this Report, the domestic market or the domestic debt is at Kshs661 billion. From the foreign debt they will borrow Kshs291 billion. When you borrow locally, what do you do to the economy? What do you do to Kenyan businessmen and Kenyan companies? Government then will compete with the private sector. When banks have a choice between a Kenyan business that wants to provide collateral against a Government Treasury Bill then banks will either raise the conditions and the rates of interest for Kenyans to borrow against the government borrowing. This affects the growth of the private sector. I have talked about the issue of debt. Our problem in the budget-making process from the National Treasury is the discrepancy between revenue raised and the spending. The two components must tally, be consistent and agree with each other. You cannot tell the KRA under this COVID-19 situation that…"
}