John Mbadi Urges Kenyans To Give One Year To Revive The Economy: “The Second Year Will Revive”

• Figures from the National Bureau of Statistics (KNBS) show that Kenya's economy grew by 5% in the first quarter of 2024
• The new Finance Minister (CS) John Mbadi vowed to increase the rate in the next financial year
• Speaking in Homa Bay, Thursday, August 29, Mbadi urged Kenyans to give him one year to revive the country's economy

The new Minister of Finance (CS) John Mbadi has vowed to revive Kenya's economy.

Mbadi said many regions in the country need development and his National Treasury team is working on policies.

What he said about the economy Kenya

Speaking during President William Ruto's visit to Homa Bay county on Thursday, August 29, Mbadi asked Kenyans to give him just one year and the economy will be on the right track.

The minister said he is in talks with the president about steps to revive the country's economy.

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“I will involve President William Ruto and we will revive the economy. I want to assure Kenyans that the country's economy will be on the right track… just give me one year, and in the second year we will see changes,” Mbadi said. .

Is the Kenyan economy growing?

According to the National Bureau of Statistics (KNBS), the economy grew by 5% in the first quarter of 2024.

The report noted that the growth was supported by the expansion of agriculture and other sectors.

KNBS It said inflation eased to an average of 6.29% in the first quarter of 2024 from a high of 9.13% in the first quarter of 2023, driven by lower food prices.

At the same time, the Kenyan shilling strengthened from 149.63 to 126.37 against the dollar. United States (United States).

John Mbadi advocates the Bottom-up economic model

Earlier, Mbadi changed his position on the low-income model, the main driver of development of the Kenya First administration.

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Mbadi, who was previously against the model, defended the model during the CS screening.

The economic model aimed to help low-income Kenyans climb the economic ladder, thus establishing his manifesto in the above-mentioned style.

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Source: TUKO.co.ke