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{
    "id": 1382353,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382353/?format=api",
    "text_counter": 239,
    "type": "speech",
    "speaker_name": "Kitui Rural, WDM",
    "speaker_title": "Hon. David Mwalika",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. At the outset, I support this Report and thank the Committee for bringing it here. I also thank the National Treasury on how it has handled the repayment of the Eurobond. The situation with the Eurobond brought a lot of anxiety in the financial market. Last year, when I was in Washington DC for the International Monetary Fund (IMF) and World Bank talks, everyone thought that Kenya would be the next country after Zambia and Ghana, in terms of loan defaulting. Now we are off the hook. As a result, the Kenya shilling has appreciated against the dollar. Many people were hoarding the dollars in the hope that the Government would mop up the dollars to repay the Eurobond. At least, the dollar market has stabilised now. The proposals in the MTDMS are not new. They have been there before. The question is: Have they been implemented? When you look at the Report, the 2023 set fiscal deficit was targeted at 4.4 per cent, but the actual deficit is at 5.5 per cent. This means that we do not follow the proposals. We need to be serious as a country. If we want to fight debt, we have to have balanced budgets. I like the Committee’s recommendation that the National Treasury should The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor"
}