Treasury Cabinet Secretary John Mbadi has admitted that the country’s economy is not doing well but said the government is working on strategies to turn the fortunes around.
He claimed past loans taken to implement long-term development projects had strained the country, but the results would be felt after 30 years. The loans have been attracting interest as the government struggles to repay loans.
Mbadi’s statements, however, stand in stark contrast to President William Ruto’s comments, who has been keen to paint a rosy picture of a booming economy. “The loans, some of three, five, seven, and ten years, were short-term, which we have to pay with interest, but the results of the projects will start being seen after 30 years. That is the struggle,” Mbadi said.
However, he asked Kenyans not to despair, arguing that his job is difficult but achievable. Mbadi said that with Kenyans’ cooperation and patience, he was certain the economy would rebound soon.
“Even when I tell you about the difficulties and stress of paying debts, it is not to scare you.
‘‘It is only to make you appreciate that things may not be so easy. But I am telling you today that I am equal to the task,” the CS said.
He assured Kenyans that the Kenya Kwanza government would, in the shortest time possible, manage to navigate the challenges, turn the corner, and return to the path of prosperity.
Additionally, Mbadi, who was speaking during the Migori Teachers Training College graduation ceremony on Friday, pleaded with legislators to rally support for his first Budget Statement in June, saying that it would be fair to the whole country.
“Inclusivity is paramount and embedded in our Constitution. Fairness is one of the principles under Article 10 of the Constitution,” he stated.
Mbadi rallied the Nyanza people to support President William Ruto, saying that he has their interests at heart
He said Ruto knows that there are projects that should be implemented in Nyanza, including road projects.
Mbadi revealed that the government had paid a substantial amount for the Masara-Sori Road, and the contractor is supposed to be on site.
