Nairobi, June 3 ; The Cabinet Secretary for the National Treasury and Economic Planning, John Mbadi, has stated that Kenya remains committed to sound fiscal policy and economic recovery through strategic reforms and effective public finance management, despite ongoing global and local fiscal challenges.
He noted that the government’s Bottom-Up Economic Transformation Agenda was focused on revitalising economic activity by lowering the cost of living, creating employment opportunities, and promoting inclusive growth.
“At the heart of our Bottom-Up Economic Transformation Agenda is the commitment to strengthen economic activity by bringing down the cost of living, creating jobs and fostering inclusive growth,” said Mbadi.
Mbadi further clarified that the Finance Bill 2025 does not introduce new taxes, emphasising that the National Treasury had taken into account public sentiment, especially in light of last year’s protests.
Mbadi urged the World Bank and other development partners to continue engaging with local academic and research institutions to ensure that policy recommendations reflect Kenya’s unique context and realities.
“Together, let us work towards a future where economic growth is inclusive, equitable and sustainable,” said the CS.
The CS underscored the importance of working collectively towards a future defined by inclusive, equitable, and sustainable economic growth.
Regarding Kenya’s current economic performance, Mbadi revealed that the country recorded a Gross Domestic Product growth rate of 5.7 per cent in 2023 and 4.7 per cent in 2024, with projections showing an upward trend to 5.3 per cent in 2025 and 2026.
He attributed this performance to resilience in the agriculture and services sectors, improved foreign exchange reserves, and a decline in inflation, which had fallen to 4.1 per cent as of April 2025.
