NAIROBI, Kenya, Jun 15 — National Treasury Cabinet Secretary Njuguna Ndung’u has called on Kenyans to be prepared to make sacrifices for the future prosperity of the country ahead of the presentation of the 2023/2024 budget in Parliament on Thursday.
Speaking to Citizen TV, Ndung’u emphasized that for Kenya to overcome its current economic challenges, citizens must play a role in supporting the government’s efforts to turn things around.
“The most important thing is to ask ourselves where we are going. We have to have some short-term sacrifices for us to achieve the long-term that is an important component that you really need to worry about,” he said.
Ndung’u noted the new administration had taken over an economy affected by multiple shocks including climate change.
“If we want to get away from the constraints that we have faced in the last one year or so then we have to sacrifice for that future that is the important message I want to tell you.”
Highlighting President William Ruto’s commitment to revitalizing the economy and ensuring inclusivity for all citizens, Ndung’u singled out job creation and reducing the cost of living as priority areas.
Inclusive growth
He stressed that while the immediate focus is on the next year, sufficient measures are being taken to sustain growth momentum and achieve inclusive outcomes.
“The most important thing is to understand that we’re planning for the next 1 year, but we are providing adequate measures in terms of how we can sustain the momentum for growth so that we get an inclusive growth outcome,”Ndung’u said.
The Treasury CS argued that the Ruto administration took over when the country was facing what he described as “extreme problems” including financing constraints compounded by debt.
He pointed out that it is difficult to finance development in the country because of lack of resources adding that the country had no headroom for debt.
Ndung’u emphasized the importance of turning around the economy which he says is “very important for everyone.”
He explained that once the turnaround is achieved, the focus will shift to creating momentum for long-term sustainability.
To achieve this, the Treasury is considering short-term, medium-term, and long-term policies.
“The long-term policies are to make sure that public policy works. That is poverty reduction, we have to create jobs for the youth, we have to make sure that the economy is inclusive and sustainable but more importantly what is has hit has very hard is the Drought which we haven’t seen for the last 40 years ,” he said.
CS Ndung’u added that food security and climate change will become a focal point in terms of the planning for the country’s future.
He assured the country that all the policy measures going to be proposed by the Treasury will be Justified and balanced arguing “they have come from consultations.
“So, we do not believe that there are measures that are not going to be balanced or Justified,” he said.
