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{
    "id": 1213844,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1213844/?format=api",
    "text_counter": 215,
    "type": "speech",
    "speaker_name": "Rangwe, ODM",
    "speaker_title": "Hon. (Dr) Lilian Gogo",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. I rise to also give my contribution on the Report on the Consolidated Fund Services expenditures for the Supplementary Estimates for the Financial Year 2022/2023. I support this Report by the Select Committee on Public Debts and Privatisation. The Committee has done a good job. I have gone through the Report and I want to appreciate the work the Committee has done, especially given the situation that we find ourselves in as a nation that is enslaved in serious debt. We live on borrowed time and money. The largest expenditures under the Consolidated Fund Service expenditures are interest and principle payments of Kenya’s public stock of debt that has grown because of sustained fiscal debts. Of course, we get fiscal debts and go for more. Because there are people who are willing to give us money, we keep borrowing money without thinking of the interest that will accrue from the borrowing and how we are going to repay it. So, we get into debts, after getting into them, we do not know how we will pay and even if we pay, we do not pay regularly. The Consolidated Fund has remained relatively unchecked and it has received minimal oversight. Other than representation and making laws, the main role of Parliament is oversight. We are supposed to oversee the work of the Government. I want to appreciate this Committee for coming out strong. I also want to appreciate the current Parliament for coming up with this particular Committee because it was not there in the 12th Parliament. I have seen the Chair of this Committee has done a good fast forward. He has not stopped just at that, but has also come up with very serious recommendations to mitigate what is going on, especially in terms of minimising our public debt. The stock of public debt that we owe as a country is running to almost Kshs10 trillion. It requires about Kshs1.3 trillion to service it. Honestly, when we run a budget of about Kshs4 trillion and we are using about Kshs1.3 trillion to service the debts that we took, then we really have to question ourselves as a country if we are financially smart. When you find out about this huge debt, what are the fiscal structures on the ground that you see for the debts that we owe? Where is this money? Our education sector is reeling in unpaid debt. We cannot afford basic things like food and we say we owe Kshs9.3 trillion. I want to ask the nation called Kenya: Where is this money that you owe as a nation? If it is found in your pockets, may you be cursed because our children are not able to go to school. As we keep money in form of debt, we are supposed to pay Kshs1.3 trillion to service it yet we cannot do our basic responsibilities as a nation. It is a shame. I thank you."
}