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{
    "id": 1275844,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1275844/?format=api",
    "text_counter": 368,
    "type": "speech",
    "speaker_name": "Sen. (Dr.) Khalwale",
    "speaker_title": "",
    "speaker": {
        "id": 170,
        "legal_name": "Bonny Khalwale",
        "slug": "bonny-khalwale"
    },
    "content": "There can be mischief when it is not scientific. Now that we are making it scientific, it will be forever easy for us as Parliamentarians to see that somebody is exceeding the 55 per cent anchor. Therefore, I thank Members of the Minority side. I have listened to your contribution, including Sen. Osotsi’s. There is very good grasp of this. The distinguished Senator for Mombasa County is in my committee and he was the first to spot what was concerning us. What was that? We were concerned that the provision that allows the Cabinet Secretary for National Treasury to exceed the 55 per cent on exceptional circumstance, could visit this country a disaster. I salute you, Sen. Faki. We put Professor under a lot of pressure to convince us why we would give moratorium of five years where the Minister is enjoying that window and he convinced us. Therefore, if there is still any Member in this House who does not sit in the Standing Committee of Finance and Budget, I persuade you, we have represented you well. We have understood that there can be exceptional circumstances where you need to go beyond the borrowing ceiling. What did we do as a committee? We then insisted that it be clear what exceptional circumstances can be. We found that one such exception circumstances is the depreciation of the Kenya Shilling. The Kenya Shilling can depreciate so fast that it can hurt our public debt then we end up---"
}