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{
    "id": 1591165,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1591165/?format=api",
    "text_counter": 151,
    "type": "speech",
    "speaker_name": "Hon. John Mbadi",
    "speaker_title": "The Cabinet Secretary for the National Treasury and Economic Planning",
    "speaker": null,
    "content": "Government will continue to uphold prudent monetary and fiscal policies, ensuring that our actions remain aligned with the evolving needs of the economy and of the Kenyan people. As part of the process, the Government will work to ensure that inflation remains within the targeted range, maintain a competitive exchange rate to the dollar, and deliver stable interest rates. Fiscal policy stance over the medium term will continue to support the Government's priority programmes under BETA through a growth-oriented fiscal consolidation plan. As such, the fiscal deficit is projected to decline from 5.3 per cent of GDP in the FY 2023/24 to 2.7 per cent of GDP in the FY 2028/29. Hon. Speaker, Kenya’s economic outlook faces both external and domestic risks. Globally, trade tensions, financial market volatility, and geopolitical conflicts could reduce Kenya's exports, tourism, and remittances as well as raise costs of essential commodities. In the domestic scene, extreme weather may impact agriculture, infrastructure and food security. The government is monitoring these risks closely. It will take necessary actions and measures to safeguard macroeconomic stability."
}