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{
    "id": 1077113,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1077113/?format=api",
    "text_counter": 319,
    "type": "speech",
    "speaker_name": "Kiharu, JP",
    "speaker_title": "Hon. Ndindi Nyoro",
    "speaker": {
        "id": 13370,
        "legal_name": "Samson Ndindi Nyoro",
        "slug": "samson-ndindi-nyoro"
    },
    "content": "Therefore, in theory yes, we are a budget-making House but, in practice, Kenyans need to know that the Budget of this country is made by the Executive and the buck stops with the President who has appointed the National Treasury CS. I must say I am very disappointed because looking at the size of the Budget that we ought to read and the mismatch between the revenues and the expenditure, it is very disheartening. We have continuously been collecting about Kshs1.6 trillion and I do not know which magic we are going to undertake for us to have revenues in excess of Kshs2 trillion. Historically, it is good for Kenyans to know that when the former President Mwai Kibaki took over in 2003, the revenues in this country were a partly Kshs200 billion. When he left, those revenues were approaching Kshs1trillion. That is close to 500 per cent increment in the revenues that we collected under the 10 year Kibaki regime. When this regime took over in 2013, the revenues were around Kshs1 trillion. As we talk nine years later, we are talking about Kshs1.6 trillion. That is partly 60 per cent increment for the entire period. Therefore, what the former President Kibaki achieved in just half a year has taken this administration 10 years to achieve. Those are facts and figures. The issue of revenue goes along many facets because you cannot collect revenue from nowhere. You collect from enterprise and other productive sites of the economy. Before I go to that point, allow me to voice the issue of debts that has been voiced by several other colleagues before me. As we talk about the debt of this country, Kenyans need to know that this regime has over- borrowed beyond the limits that we have put in this House. I say so because even checking the data from the Central Bank of Kenya (CBK), the mainstream debt in this country both domestic and foreign is almost approaching Kshs9 trillion that we actually instituted in this House. It is just about Kshs8.6 trillion. There is another side of debt that has not been recognized by this regime and by the National Treasury, but this is debt owed to other people by the Government of Kenya. I am talking about the debt owed by State Owned Enterprises (SOEs) such as Kenya Power and Lighting Company and the debt owed to other institutions like the water companies that are domiciled within our county governments. That debt alone is in excess of Kshs3.4 trillion. If you add the main debt from the CBK and the county government debts, it approaches Kshs12 trillion. With the GDP of Kenya being around Kshs10 trillion, we are talking about 120 per cent debt to GDP ratio of this country. Therefore, the figures that we peddle around from the Treasury are actually incorrect. We have borrowed beyond the limit of Kshs9 trillion and the debt in Kenya is actually 100 per cent in terms of debt to GDP ratio."
}