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{
    "id": 246599,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/246599/?format=api",
    "text_counter": 19,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": "June 15, 2006 PARLIAMENTARY DEBATES 1403 Mr. Speaker, Sir, even in the area of project financing, we are examining ways of deepening our bond market with a view to mobilising resources for our infrastructure. In this Budget, I will be making proposals to enhance the bond market so as to provide long-term funding for infrastructural projects. With the strengthening of the bond market, the Government and large infrastructural corporations will increasingly rely on the domestic but predictable sources of funding to achieve our medium-term development objectives. In the coming months, the Government will encourage parastatals to finance needs backed by good cash-flows to issue bonds as a further step to develop our bond market. Mr. Speaker, Sir, consistent with our intention to maintain fiscal discipline, the Budget limits domestic borrowing to only Kshs29.5 billion. At this borrowing level, we expect interest rates to remain at affordable levels, which should serve as a catalyst for banks to increase credit to the private sector. Mr. Speaker, Sir, allow me at this point to say a big thank you to all those Kenyan taxpayers for their great contribution to the realisation of our economic freedom."
}