- Treasury CS John Mbadi says Kenya’s economy is under pressure.
- Blames massive short-term loans taken for long-term projects.
- Warns the country is paying interest now, but results may only show in 30 years.
- His tone contrasts with President Ruto’s positive economic message.
- Mbadi urges patience, promises a balanced national budget in 2025/2026.
- MPs asked to support his economic turnaround strategy.
Treasury CS John Mbadi has opened up about Kenya’s economic troubles, pointing fingers at previous governments for taking huge loans with short repayment periods to fund projects that won’t pay off for decades.
Mbadi explained that the mismatch between short-term debts and long-term projects has left the current administration struggling to balance the books.
“We’re paying interest now, but the projects will only show impact after 30 years,” he said.
Clashing Narratives from Ruto and Mbadi
Mbadi’s candid remarks paint a different picture from what President William Ruto has been selling. While Ruto insists Kenya’s economy is recovering through his bottom-up model, Mbadi’s message is far less optimistic.
He pointed out that high debt repayment, slow revenue growth, and rising recurrent expenses are putting serious strain on the economy.
A Call for Hope Despite the Crisis
Even with the gloomy financial outlook, Mbadi urged Kenyans not to lose hope. He assured the public that the National Treasury is working on a recovery plan and that his first national budget will focus on fairness and economic transformation.
“I’m not telling you this to scare you,” he said.
“But with your support and patience, we can fix this.
He also appealed to lawmakers to back his efforts in delivering a budget that works for every part of the country
