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{
    "id": 846754,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/846754/?format=api",
    "text_counter": 281,
    "type": "speech",
    "speaker_name": "Nominated, ANC",
    "speaker_title": "Hon. Godfrey Osotsi",
    "speaker": {
        "id": 13172,
        "legal_name": "Godfrey Osotsi",
        "slug": "godfrey-osotsi"
    },
    "content": "When I read through this Finance Bill, one thing that comes to mind is that this Government is desperate to raise money. They have taxed almost every basic commodity, including water. Why is this happening? It is happening because we have a Kshs5 trillion debt as a country. This has almost doubled since 2014 when the Jubilee Government took over. So, we have a serious problem. If you look at the composition of this debt, Kshs2.6 trillion of it is foreign. It is largely a bilateral debt with a country like China and others. Instead of going for multilateral debt, which is cheaper and less risky, the piling of bilateral debt is on the increase. This is a serious problem, which we need to address as Parliament. This country will be unable to handle debt obligations very soon. 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."
}