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{
    "id": 928788,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/928788/?format=api",
    "text_counter": 60,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "THAT, aware that Kenya’s trade deficit has been on the increase in the past few years with the financial year 2016/2017 deficit being estimated at Kshs.1.1 trillion; noting that the deficit is mainly attributable to the exports worth Kshs.594 billion against imports amounting to Kshs.1.7 trillion, driven mainly by the more than doubling of food and machinery imports amid slow- moving exports; concerned that the widening deficit has continued to pile pressure on the shilling against other global currencies such as the dollar; alarmed that the high demand for the dollar to fund imports has been forcing the Central Bank of Kenya (CBK) to intervene, depleting foreign exchange reserves even as the country continues to incur foreign debts; cognisant that the rising imports amplified by flat exports portends a difficult operating environment for local enterprises and farmers, including livestock and fish farmers, thereby denying Kenyans employment opportunities when locals lose out to foreign manufacturers and farmers; notwithstanding the effects of 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."
}