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"id": 1114643,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1114643/?format=api",
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"type": "speech",
"speaker_name": "Garissa Township, JP",
"speaker_title": "Hon. A.B. Duale",
"speaker": {
"id": 15,
"legal_name": "Aden Bare Duale",
"slug": "aden-duale"
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"content": " Hon. Speaker, pursuant to the provisions of Standing Order 44(2)(c), I rise to request a Statement from the Chairperson of the Budget and Appropriations Committee regarding the status of public debt in Kenya and the national Government’s budgetary allocations for development programmes per county from financial years 2013/2014; 2014/2015; 2015/2016; 2016/2017; 2017/2018; 2018/2019; 2019/2020; 2020/2021 and 2021/2022. According to The National Treasury, the nominal public debt stock stood at Ksh7.74 trillion, which is equivalent to 69.07 per cent of GDP as at the end of June 2021. This comprises Kshs4.04 trillion external debt and Kshs3.70 trillion domestic debt attracting a punitive high average interest rate of 11 per cent, per annum. It is notable that the guaranteed debt stood at Kshs158.78 billion mainly to Kenya Airways, Kenya Ports Authority, Kenya Power & Lighting Company, Kenya Electricity Generation Company Plc Ltd and Kenya Railways Corporation. The total debt stock has risen from approximately Kshs2.1 trillion in 2013 to Kshs7.74 trillion presenting a total nominal growth of Kshs5.64 trillion or accumulative growth of 368 per cent representing a total nominal growth of Kshs5.64 trillion. Further, as at the end of June 2021, the total loan commitments - disbursed and un-disbursed debts - stood at Kshs9.04 trillion"
}