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{
    "id": 1078714,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1078714/?format=api",
    "text_counter": 236,
    "type": "speech",
    "speaker_name": "Kiminini, FORD-K",
    "speaker_title": "Hon. (Dr.) Chris Wamalwa",
    "speaker": {
        "id": 1889,
        "legal_name": "Chrisantus Wamalwa Wakhungu",
        "slug": "chrisantus-wamalwa-wakhungu"
    },
    "content": "I examined this Report. There are some key concerns which I thought that I should bring out. One of the issues is the public debt which is an emotive issue in this country. Sometimes back in this Parliament, we passed a Motion on debt ceiling. I remember very well that we put a debt ceiling of Kshs9 trillion. This was supposed to go up to 2024. We have not even moved two or three years. When you look at this proposal in this Report right now, we have the Budget deficit of around Kshs950 billion which will be funded through borrowing. As legislators, do we legislate in vain or for the sake of it? When my question will be answered, I will listen carefully. I am happy because the Leader of the Majority Party is here. Does it mean automatically that if we pass the Budget Estimates, we will extend or remove the debt ceiling or will he come back with a Motion? We increased the debt ceiling, so that we could borrow money from the International Monetary Fund (IMF) and get low interest rates. Once the National Treasury got that money, they would handle the expensive loans which had arisen through domestic borrowing. We have not stayed for long. We have the Budget deficit again."
}