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{
    "id": 1114645,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1114645/?format=api",
    "text_counter": 51,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "The total loan commitments, therefore, exceeds the public debt ceiling of Kshs9 trillion as approved by Parliament and, more so, this House in 2019 - contrary to Article 211 of the Constitution as read together with Section 50(2) of the Public Finance Management Act, 2012 saying that the Minister for National Treasury has borrowed outside the law and the approval of this House. The huge loan commitments have been due to borrowing by the national Government to repay loans, for recurrent operations, including salaries and payment of loan commitment fees. The use of borrowing to finance recurrent operations violates the provisions of Article 201 of the Constitution and Section 15(2)(c) of the Public Finance Management Act, 2012. More so, the inefficiencies in drawing-down borrowing by the implementing Government agencies have led to the loss of public funds, imprudent and irresponsible use of public money contrary to the principle of public finance as stipulated in Article 201(d) of the Constitution. The development expenditure by the national Government is to promote an equitable development of the country, including by making special provisions for marginalised groups and areas. However, there is no approved criterion in the allocation of development expenditure programmes in various counties. Today, the public debt per person stands at Ksh165,000 regardless of which part of Kenya you live in and so, each Kenyan is paying Kshs156,000 regardless of whether you live in the North, Rift, Central or any other part of the country. All of us are paying this debt. Hon. Speaker, I remember you ordering the Budget and Appropriations Committee to have a sub-committee on debt management. It is against this background that I seek a Statement from the Budget and Appropriations Committee to address the following: (i) Could the Chairperson state the actual total loan commitments (disbursed and un- disbursed debts) to date, including a breakdown by lender and terms of repayment? We want to know how much we are getting from China and other bilateral organisations. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}