The country’s
economic priorities must be shaped
by public expectations with stabilization of the cost of basic goods,
especially food and energy at the
top of the list.
In a statement, Farmers Party leader, Irungu Nyakera says that this will help ease inflation, which is still low despite appreciating by 30 basis points in December to hit three per cent.
Although various institutions like the International Monetary Fund (IMF) are against subsidies on key commodities as a way of easing inflation, Nyakera says targeted subsidies and social safety nets will go a long way in supporting millions of Kenyans who are struggling to meet basic needs.
In his New Year speech, Nyakera who has served the country in various positions wants the government to fight corruption and enhance accountability, a move that he says will build public trust and ensure resources are used diligently to the benefit of taxpayers.
Furthermore, he wants the government to work towards settling outstanding pending bills, which have strained businesses and contributed to limited market liquidity.
The latest data by the National Treasury shows that pending bills dropped by Sh106.6 billion to Sh516.27 billion in the full year ending June 30, 2024, partly driven by the recent state’s initiative to clear outstanding debt.
Nyakera also calls for the creation of job opportunities to accommodate millions of skilled youths.
“Create A 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,’’ he said.
His other proposals include the expansion of 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. The trend of banks not lending to individuals and businesses must be looked into. This includes easing access to affordable credit for 50,000 MSMEs.”
He has called for the enhancement
of exports to regional markets, focusing on finished goods and agricultural products, cutting reliance
on food imports by increasing local
farm production by subsiding farm
inputs and enhancing access to markets for farmers.
