Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1382354,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382354/?format=api",
    "text_counter": 240,
    "type": "speech",
    "speaker_name": "Kitui Rural, WDM",
    "speaker_title": "Hon. David Mwalika",
    "speaker": null,
    "content": "submit to Parliament the list of projects that it intends to borrow for. Currently, we are borrowing for recurrent expenditure. There are no major projects in the country. A country is doing poorly when it starts borrowing for recurrent expenditure and not investments. We need to move towards balanced budgets. In addition, there have been many roadside promises. When the Head of State makes a roadside promise, it has to be featured in the Budget. This means we have to either re-organise the Budget or bring in Supplementary Budgets further increasing the budget deficit. A budget deficit equals a debt. It is high time those roadside promises stopped and we follow the Budget to the letter. This will reduce the fiscal deficit. Hon. Temporary Speaker, Article 223 has been over-used and abused. The Auditor- General and the Controller of Budget reported that billions of monies were used under this Article. This creates a deficit and now we have to borrow to fund the projects which the money was budgeted for. It is high time we reduced the use of Article 223. We need to go for concessional loans which are cheaper than commercial loans. We also need professional negotiators for our loans. I do not think the Eurobond was negotiated by professionals because the US$2billion was to be repaid once. I am happy that this has been re- negotiated and it is going to be paid in instalments. Imagine if we had to pay Ksh300 billion in June this year; this country would collapse. We need professional negotiators. I also love the Committee recommendation on…"
}