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{
    "id": 1261824,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1261824/?format=api",
    "text_counter": 177,
    "type": "speech",
    "speaker_name": "Kitui Central, WDM",
    "speaker_title": "Hon. (Dr) Makali Mulu",
    "speaker": null,
    "content": "We are now being requested to move from a nominal figure of Ksh10 trillion and place our country’s debt ceiling at 55 per cent of GDP, where it should be assessed by the international bodies. That is our debt carrying capacity. The challenge we have is that by the time we were interacting with the National Treasury, our net present value was at 60 per cent, which already means we have breached the ceiling. We are above the 55 per cent. As I speak to you now, and you heard the Chairman of the Budget and Appropriations Committee explain, we are at 62.5 per cent. As a Committee, the question that we have been asking ourselves is whether we should legislate on this matter when we already know that we have breached this position. That is why we are proposing that we provide a threshold of 55 per cent plus 5 per cent, so that if it gets to 60 per cent, we can say we made the law without breaching it from the word “go.”"
}