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{
    "id": 1353468,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1353468/?format=api",
    "text_counter": 334,
    "type": "speech",
    "speaker_name": "Karachuonyo, ODM",
    "speaker_title": "Hon. Adipo Okuome",
    "speaker": null,
    "content": "A large amount of public debt has been caused by the depreciation of the Kenya Shilling which caused an adjustment that left us with a debt of over Ksh143 billion. This means that whatever we had as public debt before this devaluation significantly increased by Ksh143 billion: Ksh143 billion is a huge amount. We are still going out and increasing the amount that we are borrowing. I am concerned about leaving the Kenya Shilling to the market forces. This is an economic policy that some countries like ours adopt but if it is weakening the Kenya Shilling to an extent of giving us debt and causing disturbance to our economy, why should we retain it? The last regime did a good thing; it supported the Kenya Shilling through subsidies and the rest. I personally agree that they managed the economy better than what is happening today. We must control public debts by managing our shilling as well as our economy. In doing so, we will one day say that we got it. If we ignore doing that, we will be facing a lot of danger. Thank you, Hon. Temporary Speaker, for giving me an opportunity."
}