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{
    "id": 947019,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/947019/?format=api",
    "text_counter": 243,
    "type": "speech",
    "speaker_name": "Suba South, ODM",
    "speaker_title": "Hon. John Mbadi",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "We moved to a system where Parliament amended the law to define the upper limit or the debt ceiling to 50 per cent of GDP. As we speak, and let us be very candid with each other, that law has been violated by the Government of Kenya. The debt limit today of Kshs5.81 trillion is above 50 per cent of the GDP. This House needs to be very candid to Kenyans and tell them that one of the main reasons the Government has come to us to amend the law to change the upper limit or the debt ceiling is to comply with the law. We passed the budget for the Financial Year 2019/2020. In that budget, the National Assembly told the national Executive that we can allow them to borrow Kshs635 billion for the Financial Year 2019/2020. However, it is not possible to do that without amending this law. We cannot borrow Ksh635 billion. We cannot even borrow a shilling today because we have reached the limit of 50 per cent of our GDP. I agree with those who are expressing concern about our debt sustainability. I am one of them. We have borrowed money that this country is finding difficult to repay. When you tell the Government that there are projects within our budget which will be financed through borrowing and yet there is no space for that borrowing, what are you telling the Executive? You are telling them that this country will not implement those projects!"
}