“It is the economy, stupid”— as Kenyans approach 2025, their economic priorities are shaped by public expectations
Farmers Party of Kenya Party leader Irungu Nyakera
By: Irungu Nyakera
“It is the economy, stupid”— as Kenyans approach 2025, their economic priorities are shaped by public expectations and they include:
- Stabilize the cost of basic goods, especially food and energy and offer immediate interventions to support millions living below the poverty line through targeted subsidies and social safety nets.
- Fight corruption and enhance accountability
- Settle outstanding pending bills, which have strained businesses and contributed to limited market liquidity.
- Create 1 million jobs for the youth by leveraging technology, manufacturing, and agriculture. Social media platforms should be harnessed as job creation tools for youth, with a commitment to avoid censorship.
- Expand local manufacturing for import substitution, job creation, and value addition to agricultural raw materials.
- Reverse the overly burdensome taxes from 2024 that have hurt businesses and the middle class.
- Reverse the trend of banks not lending to individuals and businesses. This includes easing access to affordable credit for 50,000 MSMEs.
- Enhance exports to regional markets, focusing on finished goods and agricultural products.
- Reduce reliance on food imports by increasing local farm production. This will involve subsiding farm inputs and enhancing access to markets for farmers.
- Maintain public debt below 50% of GDP as per PFM act and not borrowing to fund recurrent expenditure. Fiscal reforms must reduce the tax burden while broadening the tax base equitably.
The government’s ability to reverse punitive tax policies, inject liquidity, maintain fiscal discipline, promote exports, pay pending bills, and eliminate inefficiencies will determine whether 2025 becomes a turning point for the economy. “It is the economy, stupid”—and there is should be no room for excuses.
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