STATEMENT BY MR. SAITOTI TOROME, CBS, PRINCIPAL SECRETARY, STATE DEPARTMENT FOR PLANNING DURING THE 2022 FINANCING FOR DEVELOPMENT FORUM 25TH TO 28TH APRIL 2022Canje
STATEMENT BY MR. SAITOTI TOROME, CBS, PRINCIPAL SECRETARY, STATE DEPARTMENT FOR PLANNING DURING THE 2022 FINANCING FOR DEVELOPMENT FORUM 25TH TO 28TH APRIL 2022
- It has been three (3) years since the COVID-19 pandemic struck the globe. Although the spread of the virus has been contained, Countries are still grappling with the negative effects such as high cost of living, income inequalities, unemployment, and debt burden.
- The pandemic made it inevitable for Nations to recalibrate their policies, strategies and programs to ensure sustainable economic recovery.
- Sustainable recovery calls for rationalization of public expenditures; mobilization of adequate domestic and international resources; and prudent debt management. This will allow Countries to have adequate fiscal space to implement programmes and policies necessary to achieve national, regional and global development goals.
- Cognisant of the shrinking fiscal space, the government of Kenya for instance has put in place measures and reforms to: moderate spending levels; re-prioritize public spending to pro-poor programmes (health education and social welfare); leverage on public private partnerships to fund public projects; and support to the private sector.
- We continue to reform our tax system to enhance revenue collection while creating an enabling environment for diaspora remittances.
- To cushion the Citizens and businesses from adverse effects of the Pandemic, the Government rolled out various Economic stimulus Programs. We are currently implementing the third ESP to accelerate the pace of economic growth and sustain the gains realized so far.
- We welcome easing of restrictions and reopening of the economies to restore the global supply chain. We support the call for accelerated production and equity in the distribution of COVID-19 vaccines to with a view to meeting the global target of vaccinating 70% of the population of every Country by July 2022.
I thank you.