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{
    "id": 451788,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/451788/?format=api",
    "text_counter": 191,
    "type": "speech",
    "speaker_name": "Hon. Ng’ongo",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "Finally, hon. Speaker, I am concerned that if you look at these Supplementary Budget Estimates, you will realize that we are increasing the expenditure by over Kshs.65 billion. My concern is that this country has had a policy on debt management. Our policy has always been that we reduce domestic debt because it has a lot of economic implications. It crowds the private sector. We have also said that if you borrow domestically many times then you increase interest rates in this country. We had planned to borrow Kshs.106 billion from the domestic market but what we have ended up doing in this financial year, which is coming to an end, is to borrow Kshs.135 billion. We have increased it by 28 per cent."
}