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{
    "id": 1319569,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1319569/?format=api",
    "text_counter": 185,
    "type": "speech",
    "speaker_name": "Kitui Rural, WDM",
    "speaker_title": "Hon. David Mwalika",
    "speaker": null,
    "content": "I listened to the housing scheme. I asked myself about the cost of cement and steel. Their prices have been going up. The cost of one bag of cement was Ksh680 in March. It now costs Ksh750 in Nairobi and Ksh800 outside Nairobi. These are the things which we need to address to make some of these things a bit cheaper. I listened to the President’s Speech on public debt. It is very good because he addressed the issue of repaying the Eurobond. Two weeks ago, the Cabinet Secretary for National Treasury and Economic Planning admitted that we are in debt distress or financial crisis. Borrowing is not bad since everybody borrows. In fact, every Member of Parliament has a loan. What matters is what you do with that money or loan and its impact. The debt to GDP ratio of the United States of America (USA) is 133 per cent. It is 250 in Japan, 186 in South Sudan and 67 in Kenya. We are crying that we are in debt stress. We need to address this issue. The other issues which we need to address are corruption and wastage in Government. If we address them, strictly implement fiscal consultation and reduce unnecessary trips, we will end up somewhere. I read somewhere, but I do not know how true it is, that President Kibaki made only 33 trips in 10 years. Our current President has made 40 trips in a year. If one trip costs Ksh300 million, how much are we going to spend on the President’s trips and other trips which are being made by Government officers in five years? In terms of savings, we, as a country, have the lowest savings rate globally."
}