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{
    "id": 1117551,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1117551/?format=api",
    "text_counter": 399,
    "type": "speech",
    "speaker_name": "Sen. Cherargei",
    "speaker_title": "",
    "speaker": {
        "id": 13217,
        "legal_name": "Cherarkey K Samson",
        "slug": "cherarkey-k-samson"
    },
    "content": "Madam Deputy Speaker, I support the report by the Committee on Finance and Budget. As a country, we must look into the future of sustainable public debt. As Parliament, we must also look at the debt register of this Republic. We agree that at the moment, the information that we have is that we are Kshs7.7 trillion in public debt. I opposed when the National Treasury raised the public debt ceiling to Kshs7.7 trillion. So, if they raise it to Kshs12 trillion, I will still oppose. As a country, we must have a sustainable debt because the loans that we already have are expensive and the economy is not doing well especially post COVID-19 era. We have seen the recommendations that the Committee on Finance and Budget has given in its report. However, we must relook them. We have a budget of about Kshs3 trillion. Half of it is raised through revenue and almost three-quarter of it is paid to service expensive loans. The media once asked the President to provide evidence that the ownership of the Port of Mombasa is not with the Chinese as collateral. So, going into the future, we must agree on what national assets are with our debtors. For example, is it Jomo Kenyatta"
}