Cut waste to achieve the economic recovery goals
Friday April 28 2023
The statement by Prime Cabinet Secretary Musalia Mudavadi that it will take the country another two years to repair the economy is a sobering reminder of the difficult road ahead for Kenyans who have taken a hit from the high cost of living.
Navigating a way out of an economic hole has never been an easy task for any government, especially when the Exchequer is faced with a large debt load that takes up a significant share of resources to service.
That said, there are some steps that a government can take to ease the recovery process, the key among them being the prudent use of existing resources.
Unfortunately, the government has not had a good record of curbing wastage of public resources through bloated recurrent expenditure, and leakages through corruption.
For years the Treasury has preached and promised fiscal consolidation, but it has repeatedly fallen short.
If the economic recovery measures being rolled out by the government are not matched with greater discipline in the use of taxpayer funds, even the two years that Mr Mudavadi says will take to clear the economic challenges might end up being too optimistic.