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{
    "id": 509216,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/509216/?format=api",
    "text_counter": 299,
    "type": "speech",
    "speaker_name": "Hon. Mulu",
    "speaker_title": "",
    "speaker": {
        "id": 1955,
        "legal_name": "Benson Makali Mulu",
        "slug": "benson-makali-mulu"
    },
    "content": "more opportunity you have to borrow, given that free cheque, the more the appetite to borrow. Therefore when you give Treasury this kind of free hand to borrow up to Kshs2.5 trillion, you are telling Treasury that you can borrow as much as you want. Therefore, it becomes an easier option to generate income for this country. If you read this Report and I want to quote page 6 on what our own Budget Office is saying, Section (5) says: “Borrowing needs not to be a panacea in the long run. There is need to look into the---- to a balanced budget.” That means that at the end of the day, you might borrow but you must bear in mind that one day you will be expected to pay back this money. As a student of economics, there is something called intergenerational model in terms of public analysis when you must think about the future generations. The money we are borrowing today if it is payable in 30 years, most likely some of us in this House will have proceeded to the other world. Our children or our grandchildren will now be the people who will be living and they will be expected to pay this money. So as we borrow, we need to think seriously about how we are going to pay back this money. That is why our Budget Office is saying that there is need to carry out a new debt sustainability analysis. This is because, as we move forward, we ought to be sure of how we are going to pay this debt. That is why we are saying we know this is a request for the ceiling. However, we are sure after we improve this figure from Kshs1.2 trillion to Kshs2.5 trillion, the Government is going to borrow more money. The question I am asking myself is: They need Kshs5 trillion and we are only increasing this figure by Kshs1.2 trillion."
}