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{
    "id": 389469,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/389469/?format=api",
    "text_counter": 142,
    "type": "speech",
    "speaker_name": "Eng.) Gumbo",
    "speaker_title": "",
    "speaker": {
        "id": 24,
        "legal_name": "Nicholas Gumbo",
        "slug": "nicholas-gumbo"
    },
    "content": "Hon. Speaker, I am encouraged to note that if you look at some economies, for example the so called Asian Tigers, these are economies that about 50 years ago, in terms of Gross Domestic Product (GDP) per capita, were actually smaller than our country but through an assured mobilisation culture of saving, the citizens developed a culture of saving and those savings have been mobilised and some of these economies, from what we get to hear, have actually developed without needing external loan support. I think this is possible in our country. What we need is to be able to strengthen our institutions so that our people can have confidence in them. People prefer to avoid institutions that take deposits and instead go about using their money without caring about investing for tomorrow. That can only happen if the assurance is there, that in the event the deposit- taking institution goes down, you will be able to access your savings. Through that way, I think it is an avenue for us to develop without having to always result to expensive and conditional aid from our so called development partners."
}