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{
    "id": 1525022,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1525022/?format=api",
    "text_counter": 959,
    "type": "speech",
    "speaker_name": "Endebess, UDA",
    "speaker_title": "Hon. (Dr) Robert Pukose",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. I stand to support the Liaison Committee’s consideration of the 2025 MTDS Paper as laid in the House. The Report talks about external borrowing being relatively cheaper than domestic borrowing. This is due to the share of concessional loans from multilateral lenders such as the World Bank and our development partners. Indeed, 54 per cent of the total external debt portfolio is concessional, and it significantly contributes to the sustainability of Kenya's debt. My colleague, Hon. Oundo, has misled the public by saying that you can conduct Harambee to pay external debts. I do not think there is a country that has ever conducted Harambee to pay an external debt. I presume that he was just joking. He must have said it on a light touch. There is no country in the world that does not borrow. Japan, USA and any of the developed countries borrow. All countries borrow and have debts. We noted that external commercial borrowing is relatively expensive compared to concessional loans, as I have already mentioned. Therefore, various measures, including paying off some of the most expensive loans and exploring cheaper debt instruments such as green bonds, are being considered in this Report. Following the review of the 2025 MTDS, the Committee observed that the Government will borrow Ksh831.1 billion, which is equivalent to the fiscal deficit in the 2025 BPS. This amount will be sourced from both domestic and external sources at a ratio of 65:35 respectively. 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."
}