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{
    "id": 1222577,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1222577/?format=api",
    "text_counter": 211,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Hon. Speaker, on the revenue side, we envision collecting around Ksh2.56 trillion in terms of ordinary revenue. We also look forward to collecting approximately Ksh330 billion for the CFS. To be precise, around Ksh323 billion will come from Appropriation-in-Aid (A- in-A). Those are amounts that various Government agencies receive by offering services. On the same breath, we look forward to getting grants of around Ksh48 billion. We look forward to borrowing the balance, which is about Ksh720 billion. We look forward to borrowing 70 per cent internally. I know that there will be a net effect of crowding out small-scale borrowers and ordinary Kenyans but currently, the international financial markets have “a cold”. When financial markets have “a cold”, they become jittery. When they become jittery, they respond by imposing very high interest rates. That is why we are looking more inwardly than outwardly. The global rates that we would fetch out there may not be very favourable for our economy."
}