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{
    "id": 1134086,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1134086/?format=api",
    "text_counter": 66,
    "type": "speech",
    "speaker_name": "Sen. Kibiru",
    "speaker_title": "",
    "speaker": {
        "id": 13196,
        "legal_name": "Charles Reubenson Kibiru",
        "slug": "charles-reubenson-kibiru"
    },
    "content": "Mr. Speaker, Sir, regarding the interest rates and access to credit, the Central Bank of Kenya (CBK) rate has remained at 7.0 per cent since April 2020. Exports as a share of Gross Domestic Product (GDP) has steadily declined from around 12 per cent in 2011 to 6 per cent in the Financial Year 2020/2021. The current account balance has remained steady at around 5 per cent since 2018, partly, due to declining imports as a share of the GDP. It is notable that exports of agricultural products and diaspora remittances continue to be the major source of foreign reserves. The ESP which is in the third phase of response to the adverse effects of the COVID-19 pandemic is set to cost about Kshs26.2 billion. In this phase, the Government is expected to focus on key productive and service sectors that cover agriculture, health, education, drought response, infrastructure, financial inclusion, energy and environmental conservation. Mr. Speaker, Sir, some proposed ceilings include"
}