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{
    "id": 778208,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/778208/?format=api",
    "text_counter": 287,
    "type": "speech",
    "speaker_name": "Hon. Ng’ongo",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "Let me put my point across. I am saying that it is hard to tell whether this money is going to be used for development because no one knows. No one can tell you the projects that this money is going to finance. The appetite for borrowing has crowded the private sector in this country and has slowed growth in this sector which is affecting job creation. I want to state categorically that even the so called stable rate of inflation may not be sustained in the near future because of the possibility or volatility of food prices that we see in this country, especially with regard to La Nina. The BPS document has indicated that the BOP position improved to a surplus of USD164 million from a deficit of USD129 million in 2016. This is attributable mostly to improvement in the financial accounts. Financial account is basically improvement in taking loans. The BOP has improved because we are borrowing so much. Then you want to tell us that the country is on the right trajectory! The continued underperformance of Kenya’s export with no clear strategy on how to change it will hurt this country badly."
}