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Treasury has stabilized economy, says CS Mbadi

Treasury has stabilized economy, says CS Mbadi
National Treasury and Economic Planning Cabinet Secretary John Mbadi. PHOTO/Mbadi X
In Summary

He stated that since taking office in August 2024, the government has managed to stabilize inflation and meet debt obligations on time.

Treasury Cabinet Secretary John Mbadi has dismissed claims of a struggling economy, insisting that Kenya’s financial position is on a positive trajectory under his leadership.

Speaking on Saturday, July 19, during a fundraiser at Mikuyu Primary School in Suba South, Mbadi defended his performance at the helm of the National Treasury, asserting that he had achieved more within a short period than some of his predecessors.

“Claims that the economy is doing badly are false. They are merely meant to distract the public from the progress this administration is making,” said Mbadi.

He stated that since taking office in August 2024, the government has managed to stabilize inflation and meet debt obligations on time.

According to the CS, the Treasury has also successfully transferred all pending funds owed to county governments by the end of the 2024/2025 financial year an achievement he termed historic.

Highlighting additional milestones, Mbadi noted that all National Government Constituency Development Fund (NG-CDF) disbursements, including a Sh13 billion backlog have been cleared. He explained that the funds had already been handed over to the NG-CDF Board, which is in the process of distributing them to individual constituencies.

“We paid everything before the close of the last financial year. If there is slow development in any region, do not blame the Treasury, ask your MP or governor what they’re doing with the money,” he said.

Mbadi also assured that the education sector had received adequate and timely support, noting that 50% of capitation was disbursed in January, 30% in May, and the final 20% is scheduled for the third term.

Turning to healthcare, the CS urged all Kenyans to register under the Social Health Authority to ensure they can access medical care without the burden of high hospital bills.

He further called for support of the broader government agenda, noting that enhanced cooperation between the national and county governments would accelerate service delivery and development

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