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{
    "id": 146505,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/146505/?format=api",
    "text_counter": 457,
    "type": "other",
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    "speaker": null,
    "content": "Mr. Temporary Deputy Speaker, Sir, issues have been raised with regard to the size of our domestic borrowing. It has been seen as a threat or risk crowding out the private sector while putting pressure on interest rates. However, as I have said on various occasions - indeed, the Governor of the Central Bank of Kenya (CBK) has also equally indicated the same – we do not believe that the fiscal stimulus package that we are putting together will crowd out the private sector players but, rather, will compliment private sector players, especially in this particular period of economic down-turn. So, I would like to re-assure hon. Members that both Treasury and our monetary policy agent, which is largely the CBK, will be keeping a close eye on this particular situation. As hon. Members know, the CBK has a number of mechanisms that it can use to ensure that interest rates and inflation are kept under control. Mr. Temporary Deputy Speaker, Sir, I say that because, ultimately, hon. Members have agreed with us, especially in their contributions that, at this given time, what this country needs is a resurgence in growth. That growth can largely come through spending on development projects. That has been the objective and aim – reducing non-priority recurrent expenditure but, at the same time, maintaining and increasing our expenditure on development programmes. I am glad that hon. Members have noted that year in, year out, the Government continues to increase the proportion of resources available to development at the expense of Recurrent Expenditure. There was also an issue that was raised with regard to the energy sector; on the need to look for alternative energy sources, so that we do not continue to depend on hydro-power, especially during this particular time when our water catchment areas are under threat and we continue to run the risk of drought. In this regard, I would want to assure hon. Members that the main thrust and the bulk of the resources that we have put under the Ministry of Energy is to go into new and renewable sources of energy such as geothermal and wind while, at the same time, putting monies to ensure that our water catchment areas are protected. Mr. Temporary Deputy Speaker, Sir, I would like to thank hon. Members for the support they have given us, especially with regard to our new transport policy that I referred to. I said that it will go to the Cabinet for approval. But we agreed to adopt it as part of our austerity measures. I am glad for the support from hon. Members with regard to the one-car policy for Ministers. I want to assure hon. Members that this directive will, indeed, be implemented as one of the austerity measures to rationalise expenditure and, indeed, state that no public officer will be exempted from this policy."
}