Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1216856,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1216856/?format=api",
    "text_counter": 137,
    "type": "speech",
    "speaker_name": "Central Imenti, UDA",
    "speaker_title": "Hon. Moses Kirima",
    "speaker": null,
    "content": "It is upon this House to sit down, look at this Article and see the stringent measures it can put in place to ensure public funds are not misused using it. This Motion is addressing how Kenya has been borrowing money and cutting this down by Ksh300 billion so that we do not over-borrow or rely on external debts. Comparing Kenya to USA, Japan or United Kingdom (UK) is in vain. That is because there is no comparison among those countries. It is public knowledge that the USA, UK and Japan lend money to other countries, and in so doing, they earn interest. Kenya does not lend to any country. We are just consumers and do not expect to earn profit because we consume within ourselves. When big countries like the USA lend to Kenya or other small counties, they are paid with interest. To them, this is a revolving fund like hustlers fund or Uwezo Fund, which we revolve amongst ourselves and the little profit keeps the money revolving. Kenya is a consuming country and has extended subsidies for food and fuel for consumption and not production. We will not go very far this way. So, we need subsidies on goods for manufacture for a given period and, when the situation normalises, we cut those subsidies. As it is now, if we continue to subsidise goods for consumption, at the end of the day, we will only be a consuming nation. Presently, the highest percentage of our budget supports only recurrent expenditure. This means there will be no development. Which other country in the world has a recurrent estimate of 70 per cent and development estimate of 30 per cent? This means we will stagnate. As at now, we require money to move things even if it means supporting the recurrent expenditure so as to also address the drought issue. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}