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{
    "id": 589031,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/589031/?format=api",
    "text_counter": 26,
    "type": "speech",
    "speaker_name": "Hon. Ng’ongo",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "Yes. If you look at this matter, this country was supposed to have absorbed 16 per cent of Development Expenditure by the end of August but the Report from the Controller of Budget indicates that only three per cent has been absolved. On enquiry, it is indicated clearly that there is exchequer release problems. That is why even ministries cannot absorb funds. The effect of that - I know many of us may not have financial background - is a slowed down economic growth. If you cannot absorb Development Expenditure, the projected economic growth will suffer. I am even told that counties have been asked to borrow money from commercial banks. The question Members of Parliament are asking is fundamental. I agree with Hon. Sakaja and I hope he did not speak as the chairman of The National Alliance (TNA) Party. We need to look at this matter as the National Assembly. I agree with him that we need to use the structures that we have in this House, more particularly the Budget and Appropriations Committee and the Departmental Committee on Finance, Planning and Trade. If there is a problem with exchequer release, it means there is a problem with cash flow. It also means there is a problem with revenue collection. We need to know the problem. Finally, Hon. Deputy Speaker, we need to understand why the Government is taking too much overdraft from the Central Bank of Kenya (CBK) when this matter is debated. That is a The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}