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{
    "id": 663814,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/663814/?format=api",
    "text_counter": 317,
    "type": "speech",
    "speaker_name": "Hon. Ng’ongo",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "What is the effect of this? The effect is that even the amount we expect to receive through taxation or ordinary revenue of Kshs1.376 trillion is based on a projection of economic growth of 6 per cent. Realising economic growth of 6 per cent in this economy is not realistic. For the past four or five years, we have not met the targets. We have been off the target. We realised that the Government, through the National Treasury has been over-estimating the revenue projections. But this year there are a lot of risks that we are exposed to as a country. There are a lot of shocks that this country is likely to be faced with. One is the elections fever which is already with us. It is not realistic that we will realise or achieve economic growth of 6 per cent. Therefore, in the event that that is not going to be realised, what are the options available to the Government? As we speak, the Government intends to receive just about Kshs72 billion in grants. The rest will be loans; over Kshs770 billion fiscal deficit. We expect to receive only Kshs72 billion from grants. The rest will be sourced from loans. An amount of Kshs559 billion will come from foreign borrowing and Kshs243 billion from domestic borrowing."
}