Mbadi: Inflation has dropped, economic growth expected to improveThe government has expressed confidence in the country’s improving economic position, attributing the progress to two years of “deliberate fiscal management measures.”In a Cabinet despatch on Thursday, the government highlighted a significant drop in inflation to 2.7% in October, down from a high of 9.6% in September 2022. Treasury Cabinet Secretary (CS) John Mbadi echoed this narrative during an appearance before a parliamentary committee. “Some people are asking, ‘How can inflation come down?’ The truth is, it has,” said Mbadi. Mbadi identified pending bills as a major issue, admitting that many Kenyans feel financially strained. The pending bills committee has evaluated KSh 408 billion of the KSh 663 billion in outstanding bills, clearing about KSh 448 billion so far,” he said.

Source: Daily Nation November 16, 2024 01:10 UTC