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{
    "id": 62097,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/62097/?format=api",
    "text_counter": 286,
    "type": "speech",
    "speaker_name": "Mr. Magwanga",
    "speaker_title": "",
    "speaker": {
        "id": 73,
        "legal_name": "Joseph Oyugi Magwanga",
        "slug": "joseph-magwanga"
    },
    "content": "With regard to public debts, we normally borrow debts to pay capital expenditure and sometimes recurrent costs. When we invest whatever we borrow wisely, then we are likely to realize the value of that loan. However, if it is not prudently managed, then the country will continue to incur so many debts and it is likely to be auctioned by other countries or creditors. Prudent management is key to survival of every country. Good policies are good for a country. I would actually encourage the Ministry to apply good policies to ensure that whatever we ask from our well wishers and neighboring countries, we pay and account for it. Surprisingly, every year, whenever the Budget is being read, we allocate little funds to our projects. Most times we rely on grants and external debts. I want to put it clear to the Government: When will this country rely on its own revenue and fund its own Budget?"
}