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{
    "id": 515573,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/515573/?format=api",
    "text_counter": 151,
    "type": "speech",
    "speaker_name": "Hon. Lati",
    "speaker_title": "",
    "speaker": {
        "id": 2762,
        "legal_name": "Jonathan Lelelit Lati",
        "slug": "jonathan-lelelit-lati"
    },
    "content": "If I were to look at these areas provided for by the BPS, this is one year that I would say that truly, God is on our side as a country. Our economy in 2015 has picked up very well for obvious good reasons. The World Bank just upgraded our economic outlook from about 4.7 per cent to about 6.9. It is rare for the World Bank to upgrade economic growth projections. There are inputs in this economy that are providing a lot of leverage for us to have a good economic growth and help our people to prosper. The first one is the Standard Gauge Railway. I want to thank the Jubilee Government for starting this project. It will create expenditures and investments into our economy that will push our economy forward. The other thing that is worth mentioning in terms of macro- economic outlook is the inflationary pressure that has always been a big problem to our economy. It has always been the greatest risk. It now stands at about six per cent. We got the hand of God with the fall of oil prices around the world to around US$65 a barrel. That has been a live line to our economy, which is an oil importing nation. It is for that reason that we expect our economy to gain from the drop in oil prices by about 1.2 per cent of the GDP. This goes further to help our economy. The shilling has had a lot of pressure but now with the price of oil coming down, we expect our exchange rate to remain stable although the shilling has been resilient for this period of time."
}