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{
    "id": 1217614,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1217614/?format=api",
    "text_counter": 154,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": " Therefore, for the benefit of the country, I want to explain what the debt anchor that the Cabinet resolved on yesterday is all about. Currently, our debt to GDP ratio is at 62.7 per cent. The Supplementary Appropriation Bill that we are debating today has brought down that ratio to 60 per cent of the GDP. Our desired and optimal debt to GDP level should be anchored at 55 per cent as our economy grows. Whenever we go above this threshold, it will signal that things are not well and we have to do something even as a House. Today we are at Ksh9.14 trillion against the Ksh10 trillion mark that we set. If you ask what the basis of the Ksh10 trillion is, there is nothing. It is just a figure. Therefore, it is good for all Kenyans, including those who write and commentate on economic matters, to at least have the courtesy and decency of engaging with those in the know. If they cannot engage with the National Treasury, I am sure there are also economic think tanks in this House that they can engage with and they will guide them to understand these things rather than reporting misleading facts to Kenyans. Therefore, allow me to support the passage of this Supplementary Appropriation Bill and ask that, as we did yesterday, upon the assent of this Bill, Committees of this House shall take up their work to oversee the implementation of this Supplementary Budget. We have all been inducted to our work, especially the oversight committees. This is to ensure that whatever we pass in this House is implemented by the Government in line with what was intended at the time we came up with this Budget. It will not be enough to just say that we are the budget- making House, pass Budgets and then leave it to Government Ministries and Departments to implement as they wish without providing useful oversight to them. Hon. Speaker, lastly, yesterday we passed the Report of the Budget and Appropriation Committee. The Report has certain recommendations. As I did yesterday, I want to challenge our Committees to go through that Report. Let us have the Public Accounts Committee (PAC), the Public Investment Committee (PIC) and the Departmental Committees pick up all the issues, including those on Article 223 that the Budget and Appropriations Committee has been very kind and courteous to guide us on from the recommendations they made in that Report. With those many remarks, I beg to support."
}