John Mbadi Asks Kenyans To Give Him One Year To Revive Economy: "Mwaka Wa Pili Itafufuka"

• The Kenya National Bureau of Statistics (KNBS) data shows that Kenya's economy grew by 5% in the first quarter of 2024
• Newly appointed Treasury Cabinet Secretary (CS) John Mbadi vowed to increase the rate in the coming financial year
• Speaking in Homa Bay, on Thursday, August 29, Mbadi asked Kenyans to give him one year to revive the country's economy

TUKO.co.ke journalist Wycliffe Musalia has over five years of experience in financial, business, and technology reporting and offers deep insights into Kenyan and global economic trends.

Newly appointed Treasury Cabinet Secretary (CS) John Mbadi has vowed to revive Kenya's economy.

Mbadi said most of the regions in the country need development and his team at the National Treasury is working on policies.

What Mbadi said about Kenya's economy

Speaking during President William Ruto's tour of Homa Bay county on Thursday, August 29, Mbadi asked Kenyans to give him just one year and the economy will be on the right trajectory.

The CS said he's in talks with the president about measures to revive the country's economy.

"I will engage President William Ruto and we will revive the economy. I want to assure Kenyans that the country's economy will be on the right track... just give me one year, and the second year it will be rolling," said Mbadi.

Is Kenya's economy growing?

According to the Kenya National Bureau of Statistics (KNBS), the economy grew by 5% in the first quarter of 2024.

The report noted the growth was supported by the expansion of agriculture and other sectors.

KNBS said inflation eased to an average of 6.29% in quarter one of 2024 from a high of 9.13% in quarter one of 2023, driven by lower food prices.

At the same time, the Kenyan shilling strengthened from 149.63 to 126.37 against the United States (US) dollar.

John Mbadi defends the Bottom-up economic model

Earlier, Mbadi changed his stance on the bottom economic model, the main driver of the Kenya Kwanza administration's developments.

Mbadi, who was previously opposed to the model, defended the model during his vetting as the CS.

The economic model sought to help the lowly Kenyans climb the economic ladder, hence founding his manifesto on the aforementioned model.

Proofreading by Asher Omondi, current affairs journalist and copy editor at TUKO.co.ke.