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{
    "id": 120235,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/120235/?format=api",
    "text_counter": 168,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": "Mr. Deputy Speaker, Sir, the fluctuation in the value of currencies is a double-edged process. When the shilling gets weaker, it advantages the exporters and disadvantages the importers. This is because those who import, only import capital goods, some of which are raw materials for our industries. When the shilling becomes weaker there is a lot of pressure for us in the Treasury on how to cushion importers against this. During the crisis, this was very serious. There are some importers who had made orders and within less than a month the shilling shot up from Kshs75 to the US dollar to Kshs80 to the US dollar. I know one importer who lost Kshs40 million. At that time, exporters were enjoying. When the shilling becomes stronger, they are disadvantaged. Therefore, there is some kind of balancing in the free market and it is very difficult to take any specific measures. We are, however, thinking about creating specific zones for some specific items. I know my friend is involved in the flower industry. We will see how to protect them and cushion them against adverse effects of fluctuations of currencies."
}