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{
    "id": 1393836,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1393836/?format=api",
    "text_counter": 266,
    "type": "speech",
    "speaker_name": "Sen. Orwoba",
    "speaker_title": "",
    "speaker": null,
    "content": "Mr. Temporary Speaker, Sir, I support this Report on Mid-term Debt Management Strategy that has been prepared by the Committee on Finance and Budget. First, I want to congratulate them for highlighting key aspects that are needed to change how things have been run in this country. It is unfortunate that we have Members of the Opposition who want to do the same things over and over and expect to have different results. It is not a secret that the hole we found ourselves in is a situation that was created by the previous regime. For avoidance of doubt, these were documents that were tabled in the National Assembly showing that over four months, the former regime under the leadership of President Uhuru Kenyatta was borrowing close to Kshs854 million daily. That money cannot be accounted for. What we know as a country is that we are in debt, and we have to get ourselves out of the situation. When we had a conversation about the numerical figure that had been put on the debt ceiling, it became clear that we were operating from a point of old ways; where you have a numerical figure and you are told the much that you can borrow without much justification. We had this conversation on why we were moving from a numerical debt figure into a debt anchor, which was a percentage of the GDP. Mr. Temporary Speaker, Sir, it is because as a country, we are also alive to the fact that we intend to move the economy to a place where we can break even and we might not even require to borrow as heavily as possible. In that sense, we passed and changed the policy so that we can have a debt anchor as our guiding line in terms of our debt management. 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."
}