Introduction to the Transcript
The transcript begins with a welcome message to Honorable Abraham Kira, who has returned to Parliament. The speaker expresses their gladness to see him and proceeds to address the state of the nation.
Addressing the State of the Nation
The speaker emphasizes the importance of data in making informed decisions, especially when it comes to investing in companies or evaluating the performance of a country. They mention that when they were speaker, they would focus on the facts and figures presented in financial statements, which are regulated by bodies like the Nairobi Securities Exchange and the Central Bank of Kenya.
Discrepancies in Data
The speaker highlights some discrepancies in the data presented during the state of the nation address. They mention that the exchange rate, which was stated to have improved, has actually depreciated by 8.5% since August 2022. They also point out that the Nairobi Securities Exchange is not at its all-time high, as claimed, but rather reached its peak in 2007.
Performance of the Nairobi Securities Exchange
The speaker explains that the performance of the Nairobi Securities Exchange is measured by indices such as the NSE 20 Index, which has not reached its all-time high. They also mention that the construction sector in Kenya has contracted by 2% in 2024, and the consumption of steel has decreased.
Comparison of Economic Growth
The speaker compares the economic growth of Kenya under different regimes. They note that during the first three years of President Kibaki’s term, the GDP grew by 72%, while during President Kenyatta’s term, it grew by 36%. In contrast, the current regime has only seen a 4.7% growth in GDP.
Regional Dominance and Debt
The speaker discusses Kenya’s regional dominance, noting that the country’s growth rate is lower than that of its neighbors, such as Tanzania and Rwanda. They also express concern about Kenya’s debt, which is currently over 12.5 trillion Kenyan shillings, with the country borrowing over 3.5 billion shillings every day.
Issues Not Addressed in the Speech
The speaker mentions that they had expected the president’s speech to address issues such as debt, education, and the confirmation of interns. They express disappointment that these issues were not mentioned and emphasize the need for the government to be transparent and factual in its reporting.
Response to Questions
The speaker responds to a question from another member of Parliament, providing evidence of Kenya’s borrowing and debt. They explain that the data is available at the Central Bank of Kenya and that the country’s debt has increased significantly over the past three years.
Conclusion
In conclusion, the speaker emphasizes the importance of accurate data and transparency in governance. They highlight the need for the government to be factual in its reporting and to address pressing issues such as debt, education, and employment. The speaker urges the government to take a more deliberate and factual approach to governance, ensuring that data speaks for itself and that the country moves forward in a positive direction.
