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{
    "id": 778124,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/778124/?format=api",
    "text_counter": 203,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Whereas the country’s debt level is sustainable, the Jubilee Government has found it fit to continue implementing prudent debt management practices and policies. The question that this House that has the oversight role must ask itself is: “Are we using the resources we are borrowing for the right course?” That is the question. If we borrow to build the Standard Gauge Railway (SGR), are we seeing the SGR? If we borrow to build and expand the Jomo Kenyatta International Airport (JKIA) terminals, are we seeing them? It is the business of this House. It is not the business of economists to go to television talk shows. It is the business of this House that both the money that we collect from the people of Kenya and the money we borrow either domestically or internationally, where we pay interest rates, is accounted for. That is a function of this House. We cannot run away from our cardinal constitutional duty. So, it is very sad for a Member of Parliament out there at a funeral to start questioning the debt sustainability of our country. Members of this House have the right to ask the CS for the National Treasury to bring the debt books and come here and open for the House to confirm whether the debt exists and whether that the money he has collected and borrowed are in his books. How does he want to pay and is there value for that money he has borrowed? The CS has tabled the medium-term debt strategy document. It is for this House to look at the document and the Budget and Appropriations Committee to prepare a report and for the House to come and discuss and adopt and indict individuals who they feel are misleading the country on macroeconomic pillars. The debt management strategy as presented by Government is consistent with the various macroeconomic indicators as contained in the BPS of 2018. The medium-term debt strategy is carefully designed to ensure that the Government has in place a solid and feasible strategy of financing the budget deficit. So, even when the CS says there will be a deficit, he has provided to this House and to the nation how he is going to finance that deficit. Let me reiterate that borrowing by the Jubilee Government will be utilised prudently in financing the infrastructure projects as well as the big four agenda in order to have maximum benefit to our country. Let me stress that the Government commitment to the debt strategy will be implemented through a borrowing plan anchored on the government cash flow requirements. All this borrowing is factored in when you really look at the cash flow of Government. How much do we need to borrow? How much have we raised? Where do we want to use that money? I want to inform Members of this House that as they deliberate on the BPS and the Debt Strategy Paper, they should be guided by the bigger picture of the socio-economic transformation that has been going on for the last five years under the leadership of President Uhuru Kenyatta. I urge the House to adopt this Report by the Budget and Appropriations Committee on the BPS 2018 and the Debt Strategy Paper and it is my hope that the House will relate with the Budget Policy proposals advanced by the Committee. Let me come back home. This morning we had a meeting as the Liaison Committee chaired by the Deputy Speaker. We are putting the chair of Budget and Appropriations Committee on notice. I want to go on the HANSARD that when you are going to deal with the The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}