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{
    "id": 506976,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/506976/?format=api",
    "text_counter": 329,
    "type": "speech",
    "speaker_name": "Hon. Kabando wa Kabando",
    "speaker_title": "",
    "speaker": {
        "id": 31,
        "legal_name": "Kabando wa Kabando",
        "slug": "kabando-kabando"
    },
    "content": "Of course, after the Euro Bond, the Government wanted to borrow Kshs180 billion. Understandably, the Government now needs about Kshs100 billion. If the trend of the Government wanting to borrow but minimizing the supply, applying the basic law of supply and demand continues, it will mean that on average, we will be borrowing at 10 per cent. This has implications. Government borrowing will continue being expensive. Therefore, if these amendments go through they will lower Government borrowing and, therefore, have the effect of lowering commercial bank interest rates. Ultimately, we will be in a position, as the Government of Kenya, to create circumstances that will raise more money, which can be used to buy some of the old Government loans, so that they can be retired, and that we can continue borrowing larger amounts of money at lower interest rates. That way, the Government will make huge savings. That is why we have brought these amendments."
}