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{
    "id": 1352714,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1352714/?format=api",
    "text_counter": 2474,
    "type": "speech",
    "speaker_name": "Kitui Rural, WDM",
    "speaker_title": "Hon. David Mwalika",
    "speaker": null,
    "content": "Before 2002, we did not have a very clear register of debts because they were being managed by the Central Bank of Kenya (CBK). Currently, the CBK manages domestic debt. The National Treasury manages external debts. Recently, we passed a debt anchor – the debt at present value, which is at 55 per cent plus or minus the Gross Domestic Product (GDP). The Report shows that we are at 66 per cent of GDP. We passed the Supplementary Budget this week with a deficit of Ksh800 billion. That means we will add our debt. I normally say that as the National Assembly, we are a contributor to the national debt, especially when we approve budgets with deficits. That is telling the National Treasury, and the Government by extension, to go and borrow. As the National Assembly, we cannot run away from blame. The Report speaks to the fact that from May 2022 to April 2023, we signed loans with 19 external finance entities. That is something we need to be very careful about. Only three loans amounting to Ksh24 billion out of Ksh213 billion were disbursed. If you look at the report, the National Treasury does not give us reasons why the loans were not disbursed. That is one of the gaps which the Committee should look into."
}