Treasury and Economic Planning Cabinet Secretary, John Mbadi, has raised serious concerns about the current state of Kenya’s economy.

While speaking at a graduation ceremony held at Migori Teachers Training College, Mbadi admitted that the economy is not performing well.

However, he also shared his strong belief that, with the right steps, the country can still recover and move in a better direction.

According to Mbadi, one of the major problems is that Kenya borrowed money in the past to solve short-term issues, but used those funds for long-term projects.

As a result, this approach slowed down the country’s economic progress. He openly stated,

“It is true that our economy is not doing very well. It is largely because at one time we took short-term loans to develop long-term projects.”

Even so, he promised to take action and work hard to fix the situation. He assured the public that he has the ability and the will to restructure Kenya’s economy.

Moreover, Mbadi pointed out that fixing the economy will not happen overnight. He emphasized that it will take time, patience, and cooperation from all involved.

Despite the challenges ahead, he said he is ready to make the tough but necessary decisions to put the country back on track.

Hopeful ahead

In addition, he expressed high hopes for the upcoming 2025/2026 financial year. Mbadi revealed that this will be his very first budget, and he plans to make it fair and impactful for all Kenyans.

He urged Members of the National Assembly to support him and not to stand in the way of progress. “This will be my first budget. I will be fair to the whole country,” he said confidently.

During the same event, Migori County Governor Ochilo Ayacko and Nyatike Member of Parliament Tom Odege also addressed the audience.

They asked the Cabinet Secretary to consider increasing funds for hiring more teachers and improving their pay.

Governor Ayacko explained that many teachers are underpaid and wait for many years to receive promotions.

He warned that if the economic challenges continue, teachers might lose motivation, which could hurt their performance in schools.

Looking inward

Earlier, on March 25, Mbadi had also warned the public about Kenya’s difficult financial position. He said that the country now has to “look inward” and rely more on local resources, instead of expecting help from other countries.

This shift is necessary because of the high levels of borrowing Kenya has done over the years—both locally and internationally.

Now, the country is struggling to pay back those loans, which is putting a lot of pressure on the national budget.

“We will be left to look inward, and this is the worst period for Kenya,” Mbadi said at the time. “Some time back, we decided to take loans as a country, and these loans have now reached their peak.”

Currently, Kenya is dealing with around Ksh.10 trillion in debt. Out of all the money the government collects each year, about two-thirds go directly to paying back these loans.

This leaves very little for other important things like healthcare, education, and infrastructure.

In conclusion, while the situation remains tough, Mbadi is calling on leaders and citizens to work together to restore the economy.

He believes that with honest leadership, careful planning, and strong partnerships, Kenya can overcome its financial troubles and build a better future for everyone.

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