Treasury PS Kiptoo: Kenya's economic outlook promising

A fishmonger in Migori County prepares her fish for sale. [Caleb Kingwara, Standard]

The 2024 economic outlook appears positive, and Kenyans are anticipated to soon experience the benefits of government fiscal measures, according to National Treasury Principal Secretary Dr Chris Kiptoo. Dr Kiptoo highlighted that a bountiful harvest has already alleviated the cost of living, notably reflected in a substantial drop in retail prices of maize flour during the Christmas season, with 2 kg bags reaching as low as Sh130 in certain outlets.

The recent announcement by the Kenya National Bureau of Statistics indicating a slight drop in inflation from 6.8 per cent in November to 6.6 per cent in December further supports the positive economic trends. Dr. Kiptoo emphasized ongoing efforts to reduce the Consumer Price Index, acknowledging that fuel prices are significantly influenced by the international Brent.