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{
    "id": 435373,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/435373/?format=api",
    "text_counter": 161,
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    "content": "SGR and many other projects. So I would like to support fully this initiative and tell Kenyans that at the moment we are going for a ten year bond at approximately 12.5 per cent, if we are borrowing in Europe like we are doing a Euro bond or Dollar dominated bet, we are going to save in excess of Kshs11 billion per annum. This is a good saving which we need to do more projects being foreign based. That will take the economy to the next level. Finally, I heard somebody complaining about the ceiling. We are re-basing our GDP and I am sure going forward we are going to have headroom to borrow so that we can finance our development expenditure. I must tell hon. members that borrowing or financing from our own tax revenues is very strenuous in this economy. If you look at levels of debts for countries like Dubai, the UAE, America, there is nothing we have borrowed. So I would like the Treasury to take bold moves and invest most of our infrastructure through these programmes. Thank you!"
}