Musalia: It Will Take Two Years Or Longer To Fix The Economy

Kenyans have been warned by Prime Cabinet Secretary Musalia Mudavadi not to hope for quick answers to the nation’s economic problems.

The Kenya Kwanza administration will need at least two years to stabilize the nation’s economy and for Kenyans to begin reaping the benefits of such a turnaround, according to the prime CS. On Wednesday, Mudavadi warned MPs that solving the nation’s problems would not happen instantly, “like making instant coffee.”

As he answered questions from MPs on the floor of the house, he spoke. The prime CS said the government has little control over other external reasons causing the high cost of living in response to a question posed by Kamukunji MP Yusuf Hassan.

Hassan had requested the CS’s opinion on the steps the government is taking to bring down the price of necessities. Because of the national debt and the conflict between Ukraine and Russia, Mudavadi declared, “We are in this for the long haul.”

He claimed that both of them play a role in the nation’s high cost of living. We are unable to predict when the war will conclude. We must maintain reality. No scenario is permanent, but it will take some time, said Mudavadi.

He said that measures taken by the government to reduce the cost of living include the elimination of import taxes on food, an increase in the production of staple foods, a reduction in imports, and the planting of crops that can withstand drought. The duty waivers, according to Mudavadi, are intended to stabilize surging prices while ensuring the supply of food commodities.

He said that the government has waived import duties for 1.4 million metric tonnes of white maize. Additionally, orders for 600,000 metric tons of rice and 500,000 metric tons of yellow maize for the manufacture of animal feed have been placed.

200,000 metric tonnes of soy beans, 300,000 metric tonnes of soya bean meal, 1,600 metric tonnes of various protein concentrate, and 40,000 metric tonnes of feed additive, according to Mudavadi, were also exempt from duty as of February.

He stated that the exemptions would be in effect until August, when the nation is anticipating its first crop. Over 250 tonnes of various drought-tolerant seeds, valued at Sh50 million, have been given, according to Mudavadi, in the counties of Embu, Meru, Makueni Machakos, Nyeri, Siaya, Tharaka Nithi, Murang’a, and Busia.