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"id": 1169620,
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"speaker_name": "Sen. Olekina",
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"legal_name": "Ledama Olekina",
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"content": "Madam Temporary Speaker, I raise to support this Motion. Let me begin by saying that in other circumstances, I would not be here supporting the increase of the debt ceiling to Kshs10 trillion. However, when you look at what has been happening in this country over the past few years, we have been hit by serious pandemics. Last year or the year before, we were here arguing on the need to increase the debt ceiling to Kshs9 trillion. There was a heated debate on it. If you look at our debt ratio to GDP in 2019, we were around 58.6 per cent. However, by the end of this year, our debt ratio to GDP is expected to be around 70 per cent. The first question to ask is why? The only simple answer that I can give to Kenyans out there is because of two factors. First, it is because of the COVID-19 pandemic. It is not quantum physics that COVID-19 pandemic has had a serious impact on the growth of our economy. The second serious issue is what is happening in Ukraine."
}