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{
    "id": 1169604,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1169604/?format=api",
    "text_counter": 233,
    "type": "speech",
    "speaker_name": "Sen. (Dr.) Mwaura",
    "speaker_title": "",
    "speaker": {
        "id": 13129,
        "legal_name": "Isaac Maigua Mwaura",
        "slug": "isaac-mwaura"
    },
    "content": "Thank you, Madam Temporary Speaker. From the outset, I oppose this increase of the public debt from Kshs9 trillion to Kshs10 trillion. How can we borrow the whole of our nominal Gross Domestic Product (GDP)? In this country, we have been lying to each other about the estimated wealth of this nation. It is very interesting because when I was in the National Assembly in 2014 or 2015 – it can be confirmed – we increased our public debt ceiling from Kshs3 trillion to Kshs4.5 trillion. I was in the Committee on Budget and Appropriations and the understanding that we heard that time, is that it would help the country to move forward. It did not. Then we increased the public debt ceiling from Kshs4.5 trillion to Kshs6 trillion. After that, this House increased it from Kshs6 trillion to Kshs.9 trillion. Now, we are increasing by another Kshs1 trillion. When we look at the bigger picture, it means that within a record nine years, we have increased our public debt from Kshs3 trillion to Kshs10 trillion if this were to pass; a whole Kshs7 trillion. It is not acceptable. What have we done with the Kshs7 trillion? Look at our Budget. Currently, we collect about Kshs1.6 trillion to Kshs1.7 trillion every year. It is not even Kshs2 trillion. We have a national budget of over Kshs3 trillion every year. That is to mean sooner than later, we still have to increase our public debt ceiling. It also means that we are living way beyond our means. Now, they say that devolution is the reason for our ballooning wage bill, but how much do we send to counties? It is less than Kshs400 billion. Even if you were to take that money off the budget, it does not justify why we have a Kshs3 trillion budget. That is not something that we have to live with. Successive governments – be it the Jubilee"
}