Tough times ahead as the government admits it will take two years to fix the economy
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It will take at least two years to fix Kenya's economy according to Prime Cabinet Secretary Musalia Mudavadi
It will take at least two years to fix Kenya’s economy according to Prime Cabinet Secretary Musalia Mudavadi.
According to Prime Cabinet Secretary Musalia Mudavadi, Kenyans should prepare for even tougher times as it will take at least two years to bring the economy around.
In response to a query from a member of the parliament yesterday, Mr. Mudavadi said that fixing the challenges facing the country would take time and would not happen immediately “like making instant coffee”.
Mr. Mudavadi stated that the government has no control over some elements that contribute to the high cost of living in response to a query from Kamukunji MP Yusuf Hassan regarding the efforts the State was doing to reduce the cost of essential items.
“We are in this for the long haul,” he said, citing “the public debt and the Ukraine-Russia war” as factors contributing to the cost of living crisis.
“We have no capacity to determine when the war will end. We have to be realistic … it will take a bit of time but … no situation is permanent,” said the CS.
Among the steps being taken by the government to lower the high cost of living, he said, include waiving duty for imported food items, increasing agricultural production for staple foods, cutting down on imports s, and planting drought-resistant crops.
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On the duty waivers for food imports, Mudavadi said the move will help to bridge the food stock deficit and stabilize prices.
To this end, he said, the government had granted a duty waiver for the importation of 1.4 million metric tonnes of white maize, 600,000 metric tonnes of rice, and 500,000 metric tonnes of yellow maize to be used for the production of animal feed.
Duty had also been waived for 200,000 metric tonnes of soya beans, 300,000 metric tonnes of soya bean meal, 1, 600 of assorted protein concentrate, and 40,000 metric tonnes of feed additive which took effect in February and will go on until August when the country is expecting its first harvest.
Musalia Mudavadi said over 250 tonnes of assorted drought-tolerant seeds worth Sh50 million have been distributed in Embu, Meru, Makueni Machakos, Nyeri, Siaya., Tharaka Nithi, Murang’a, and Busia counties.
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