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{
    "id": 778220,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/778220/?format=api",
    "text_counter": 299,
    "type": "speech",
    "speaker_name": "Hon. Mugambi",
    "speaker_title": "",
    "speaker": {
        "id": 13463,
        "legal_name": "James Gichuki Mugambi",
        "slug": "james-gichuki-mugambi-2"
    },
    "content": "which is generating a lot of debate, we had a meeting with the IMF and they gave this country a clean bill of health and accepted that the country has bigger capacity to borrow. It is very difficult for any country, even individuals who want to grow, to grow without borrowing. All the first-class economies are where they are because they borrowed. Today, we should appreciate when we know that the Government has already completed a project like the SGR after borrowing. We know this project will help generations to come. The biggest challenge with our debt today is not the quantum. It is the quality because a lot of our debt is short-term. This is where the Government is coming in and trying to externalise part of the debt and taking longer-maturing debts. Every Member of this House should support that move, so that we move out of local borrowing in terms of short-term Treasury Bills to longer debts which can do long-term projects. Today, among the four main investments the Government wants to undertake is housing. It is a very long-term project which cannot happen with short- term debts. We must, therefore, rise to the occasion and look for long-term debts which can finance long-term investments. The manufacturing sector that the Government is going to invest in, is going to help a lot in improving exports and by doing that, it will improve the country’s capacity to generate foreign exchange. If you are able to generate more foreign exchange, this country will reduce the risks of debt exoneration. It is the reason why we should all rise to the occasion to support the Budget as it is. However, obviously, as a House that represents the people, we should insist that we want to see deliverables in terms of where the Government is investing. If we go to health, we want to see a clear collaboration between the national Government and the devolved units. We know health is devolved, but the Government is committed to providing universal healthcare to every Kenyan. The way to do it is through a very smooth collaboration between the two levels of Government. We know they all serve the same Kenyans. This House needs to come in and ensure that all this collaboration is properly defined and provided for in the budget-making process. When we look at agriculture, a lot of money is going to do dams so that we will no longer continue to depend or be affected by the vagaries of weather. That is why all Members of this House, including the Opposition, must support what the Government is doing. These dams are being distributed and are being built all over the country. They are built where the Government has established that food can be generated for this country. We know that agriculture will provide a big base for raw materials to help improve on manufacturing. We know that the Government has plans to do value addition in livestock and agriculture. This will go a long way in saving the country a lot of money that has been spent on importation of foodstuffs. This will also improve the budget deficit and our current account deficit. I, therefore, support."
}