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{
    "id": 1525052,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1525052/?format=api",
    "text_counter": 989,
    "type": "speech",
    "speaker_name": "Uasin Gishu County, UDA",
    "speaker_title": "Hon. Gladys Boss",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. Before I reply, I would like to thank all the Members who have contributed very enthusiastically to this Motion. This shows great interest. This is the first time in Kenya that the Medium-Term Debt Management Strategy has been brought to Parliament. Prior to 2021, this was not the case. We have made progress as a country. As legislators, we are interested in the levels of our debt, how it is being managed and utilised. We are also interested to know how much is required at any particular stage during consideration of BPS, even as we prepare to have the Supplementary Appropriation Bill. Hon. Temporary Speaker, some Members thought that a gloomy picture has been painted. Yesterday, as I listened the Cabinet Secretary for the National Treasury and Economic Planning, Hon. John Mbadi, I felt positive and hopeful as a Kenyan because our country is moving in the right direction. If you see the way he explained how he has managed debt from the time he got into office up to now, you can see that there are positive achievements. We must commend him because he took his time to explain to us the situation. He also admitted that the debt level is not at the prescribed 55 per cent. He said that it is at 63 per cent, but he told us the strategies that they have put in place to ensure that it drops back to 55 per cent. They have a very clear roadmap to ensure that by 2028, the debt level drops back to 55 per cent. I would have been worried if we had a situation like it used to be before, where we did not even know the level we were at in terms of the national debt. I remember proudly that when I was the Chairperson of the Committee on Delegated Legislation, we set the debt ceiling at 55 per cent. We have since made progress, as it has been reported. We must commend the National Treasury for being honest about it and telling us that they have clear measures in place to reduce it. They have also agreed to bring to Parliament updates at specific intervals we have agreed upon. We have dates in July and May that they have confirmed to us. They also agreed to discuss measures they can put in place to ensure that there is better governance, accountability and transparency in the way we utilise not only our own resources from revenue but also those that come from debts. That is why they gave us very good measures. Firstly, they are adopting the STA strategy, which is progress. That is why we are asking this House to allow them up to 2028. They told us that once the STA system becomes 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."
}