(Photo courtesy)
MP Wanami Wamboka has raised concerns over Kenya's economic situation, pointing to rising public debt, corruption, the cost of major government projects and declining economic growth.
In a statement shared on his official X account, Wamboka highlighted findings from the World Bank's 34th Kenya Economic Update, which was attended by Linda Mwananchi Movement Party Secretary General Caroli Omondi.
According to Wamboka, the report identifies governance challenges as a major reason behind Kenya's economic underperformance.
He noted that effectively tackling corruption could increase GDP growth by 20 per cent by 2035 and create 7.7 million jobs.
He also drew attention to the cost of the Standard Gauge Railway (SGR), claiming that its construction cost was inflated by more than US$300 million compared to similar railway projects in Ethiopia and Tanzania.
Wamboka further highlighted several economic indicators, saying Kenya's GDP growth had declined from 5.7 per cent in 2023 to 4.4 per cent.
He added that the country's fiscal deficit stood at 6.8 per cent of GDP, while public debt had reached 72 per cent of GDP.
Inflation had also increased from 4.6 per cent to 7.3 per cent, according to the figures he shared.
The MP argued that these economic challenges were affecting ordinary Kenyans, particularly their ability to afford basic goods and services.
He said the Linda Mwananchi Movement was concerned about the situation and called for people-centred policies, reduced government inefficiencies and measures to lower unnecessary public spending.
Wamboka maintained that addressing these challenges was necessary to restore people's purchasing power and improve the country's economic situation.
https://x.com/HonWamboka/status/2118011296960450653?a=AYh48LXW52Z3iZDPyHY&s=19
Leave a Reply