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{
    "id": 449244,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/449244/?format=api",
    "text_counter": 186,
    "type": "speech",
    "speaker_name": "Hon. Mulu",
    "speaker_title": "",
    "speaker": {
        "id": 1955,
        "legal_name": "Benson Makali Mulu",
        "slug": "benson-makali-mulu"
    },
    "content": "The expectation was, if we do that, then our GDP is likely to grow higher, and because that is the denominator for calculating most of these indicators, then our public debt management indicators will actually look better. But the initial indicators are that the figures we have been working with as the GDP for Kenya are actually becoming small. We have lower figures than we have been having. This means our public debt indicators are now likely to become worse. That means, we need a very clear public debt management strategy, so that we do not over borrow and at the end of the day, actually overburden future generations. It is clearly stated that for best practice, there should be a very good balance between the current generation and the future generations in terms of debt management, so that we do not overburden our future generation in terms of repayment of debts. That can only be done if we have a very clear public debt management strategy, which looks at all these issues I am raising. The last point I want to raise is with regard to the issue of repayment of this Kshs1.4billion. We know the money has been paid; I did raise my objection to that payment when we started, and it is part of this preliminary budget. I want to state that I still do not support it at individual level; even the Committee has stated its position. I agree with the Committee’s position though. I am just saying that in future we will need to be careful with this kind of payment, because we have generated more money through the foreign bond, but that does not justify making payments which might not help Kenyans much. For the future, I think we need to learn and make sure that all the payments made from our future budgets are clearly understood, and will add value to the lives of Kenyans. With those remarks, I want to support the adoption of this Motion; thank you very much for giving me the opportunity."
}