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{
    "id": 509238,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/509238/?format=api",
    "text_counter": 321,
    "type": "speech",
    "speaker_name": "Hon. Gikaria",
    "speaker_title": "",
    "speaker": {
        "id": 2489,
        "legal_name": "David Gikaria",
        "slug": "david-gikaria"
    },
    "content": "Hon. Speaker, it has been alluded that a recent International Monetary Fund (IMF) debt analysis gave Kenya a positive bill of health. The fact that we have never been given any debt relief shows that this country has grown significantly. We were recently moved to a middle income economy, which is a very good indication. Investors will always have a motive for coming to invest in this country, given that we have an improved road infrastructure and a good working environment. Hon. Speaker, the aspect of external borrowing will enhance local borrowing and thus reduce the interest rates. Most of the Savings and Credit Co-operative Societies (SACCOs) in this country have improved so much. This only shows that the borrowing by the Government will come down and interest rates, at the local level, will reduce. This will enable the Government to actualise Vision 2030 through the economic growth rate, which will have increased. Basically, what we need to look at, and I am sure this is the issue with most of the Members who are opposing this, is whether we should borrow for purposes of wastage or for growth. If this House can do its rightful work of oversight, this can happen. This House, through its respective Committees, should do that effectively. As Members of the Implementation Committee, we had a meeting this morning and this is one of the issues that we are discussing. We want to ask the Government to make a commitment, as it has made to the Budget and Appropriations Committee, that it is not going to borrow for wastage, but it is going to borrow for development. Our Committee will be making a follow up just to make sure that the commitment that is given by the Executive is undertaken. We should not just sit back as a Committee. As we were discussing this issue this morning, our Committee will make sure that this House does its work . When the Executive gives a commitment, that commitment is actualized. With those few remarks, I support."
}