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{
    "id": 1393790,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1393790/?format=api",
    "text_counter": 220,
    "type": "speech",
    "speaker_name": "Sen. Cheruiyot",
    "speaker_title": "The Senate Majority Leader",
    "speaker": {
        "id": 13165,
        "legal_name": "Aaron Kipkirui Cheruiyot",
        "slug": "aaron-cheruiyot"
    },
    "content": "I have observed many times on the Floor of this House that this is a conversation which we will have for the next foreseeable future. In my estimation, it is going to be longer than the five years we projected when we passed the PFM amendments a few months ago where we determined that the debt-to-GDP ratio needs to be at a sustainable level of 55 per cent of our GDP. That becomes the measure through which our debt sustainability is anchored. We gave ourselves five years. Of course, this financial year to 2029 with a view to making it possible that by 2029, the debt to GDP ratio will be at 55 per cent. Right now, it is at 68 per cent. So, 13 percent is no mean feat. If we carry on in the direction that I see this Report proposing, unfortunately, the bad news that we need to deliver to the country is that we will not be able to turn this wheel around by 2029. The proposals that we are making in this Report are sound and informed by good logic. I congratulate our colleagues who serve in the Committee on Budget and Finance for being thorough with this document. They have done an excellent job though I believe that there are more stringent measures that we need to introduce. The Executive cannot save the country because they are under pressure, and I understand where they are coming from. When they visit different parts of the country, speaker after the other, request for this or that other road, water project, hospital to be furnished and so on. I want to make mention of this because I appreciate what Sen. Faki has done a good job in elaborating all the recommendations that have been made by the Committee. However, in seconding, because I do not intend to be long, I wish to propose ways in which I think we, as a country, need to move and make it better. Madam Temporary Speaker, I have said this to the National Assembly and its leadership, I have told the President and I can even go publicly about this - I hold the view that so long as we do not do a zero-based budget and continue to do a programme- based budgeting process, we will be in this debt distress situation for many years to come. There are many areas that we continue to spend public funds, which we do not have to. Yesterday I was glad when I listened to the President speaking and mentioned something that I have been very passionate about, that there are many State corporations which we do not need to be funding. This is because some of them are obsolete, yet they continue to consume our taxes and we continue to borrow to keep them sustainable. It is inconceivable for a country with a small economy such as Kenya, that we spend over Kshs50 billion monthly just to run the operations of the Government. What is it that we are doing with over Kshs50 billion just to keep the Government afloat and running? Paying operations here and there; per diems for people. We do not need 350 State corporations. I believe that number can be reduced to even less than 100. If we gave more responsibilities to many of our State corporations and allowed them to do many other things other than ensuring that each of them has a Board, a Chief Executive Officer and a Company Secretary; all being paid by the taxpayers. Kenyans over overburdened. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
}