Oduk Confident John Mbadi Will Help Stabilize the Economy
Businessman cum politician Oginga Oduk has expressed confidence that the newly appointed Cabinet Secretary for Treasury, John Mbadi, will play a crucial role in stabilizing Kenya’s economy and setting the country on a path toward economic progress.
Oduk emphasized that managing the public debt is a critical area where Mbadi’s expertise will be invaluable.
He highlighted that Mbadi’s prior experience on the Finance and Budget Committees, where public debt issues were thoroughly discussed, equips him with the knowledge needed to address both international and domestic debt challenges.
“The public debt is the elephant in the room, and I believe Mbadi’s initial meeting with the International Monetary Fund (IMF) was the right step to take as he begins his tenure,” Oduk said.
Oduk also urged the new CS to tackle corruption within the Kenya Revenue Authority (KRA) to enhance revenue collection. “KRA has been a significant obstacle, plagued by corruption, and a major overhaul is needed,” he added.
Mbadi assumes his role at the Treasury amid the ongoing Finance Bill crisis, following a court ruling that declared the Finance Bill 2023 null and void. Additionally, President Ruto recently withdrew the Finance Bill 2024 in response to nationwide protests led by the Gen Z movement.
Despite these challenges, Mbadi has committed to reviewing certain clauses of the Finance Bill for reconsideration by the National Assembly.
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