Induction for Senate Finance and Budget Committee

The National Treasury and Economic Planning Cabinet Secretary Prof. Njuguna Ndung’u today made a comprehensive presentation to the Senate Finance and Budget Committee during an Induction Workshop in Mombasa County.

The presentation entailed the operational framework for; The National Treasury and Economic Planning; work relations; support for operations of the County Governments; the Country’s economic status; macroeconomic and statistical development and many other areas.

“We should never underestimate the role of Statistical Surveys. Statistics help the government to determine the effectiveness in the allocation and distribution of resources.” Prof. Njuguna Ndung’u told the Senate Finance and Budget Committee.

As he outlined the major projects undertaken by the National Treasury and Economic Planning, CS Njuguna Ndung’u scored that the most important thing in getting results from projects is through organized coordination and harmonized interventions.

He further added that development discourse is about proper management of resources which can turn around the economy within a short period.

He said that tackling poverty should be a process without breaking out chains emphasizing that financial inclusion is key in uplifting households to better standards of living. Financial inclusion allows people to borrow, invest and escape poverty.

He pointed out that there is need for more efficient and strong efforts required for pro growth and poverty reduction strategy adding that adaptation of value chain cluster approach will help promote sustainable use of resources and this will spur economic growth.

Elaborating on the Government Bottom Up Model of Economic transformation, the Cabinet Secretary reiterated that if markets are properly governed, production will continue to increase at the downstream while the markets will continue to soar with profits at the upstream.

The CS was accompanied by the Economic Planning Principal Secretary James Muhati who expounded on the Mandate of the State Department for Economic Planning. He also tackled the issues of how the Ministry is supporting the Counties to ensure that they implement their policies, projects and programmes through structured development plans.

Also present were; the Mandera Senator Ali Roba who chairs the Committee, KIPPRA Executive Director, Dr. Rose Ngugi, NCPD Director General Dr. Sheikh Mohammed, and EPS Katherine Muoki among others.