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{
    "id": 1119310,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1119310/?format=api",
    "text_counter": 387,
    "type": "speech",
    "speaker_name": "Sen. Cherargei",
    "speaker_title": "",
    "speaker": {
        "id": 13217,
        "legal_name": "Cherarkey K Samson",
        "slug": "cherarkey-k-samson"
    },
    "content": "I have even seen recommendations by the Council of Governors (CoG) 2022/2023 in terms of the Equalisation Fund. They want more than Kshs300 billion in addition to what they have been allocated of more than Kshs370 billion in terms of equitable sharable revenue by saying that the economy has fully recovered from Coronavirus disease (COVID-19). The CoG made those resolutions yesterday. Madam Temporary Speaker, the question should be how it is possible to sustain when we have a budget that is already on deficit and is being financed by borrowing locally and internationally. It is noted that Kshs61.5 billion out of Kshs70.1 billion proceeds from the international and foreign bonds were utilised to meet recurrent expenditure, contrary to Section 152 (c) of the Public Finance Management Act. That violated the law. The only reason is that there is no legislative framework put in place to ensure prudent public debt management in Kenya. Parliament has let down the country. The National Treasury cannot borrow without the sanction and approval of Parliament."
}