Key highlights of the fourth medium term plan 2023-2027 priorities

During the Launch of the FY 2025/26 and the Medium-Term Budget Preparation Process at KICC on, 9th September, 2024, the Principal Secretary for the State Department for Economic Planning, James Muhati did a presentation on the Key Highlights of the Fourth Medium Term Plan 2023-2027 Priorities.

The presentation explored the key elements of the Fourth Medium Term Plan such as the Bottom-Up Economic Transformation Agenda (BETA) which is geared towards economic turn-around through a value chain approach.

BETA targets sectors with high impact to drive economic recovery and growth, ensures rational resource allocation by eliminating wastage of resources and provides impetus for Kenya Vision 2030 and MTP IV objectives.

PS Muhati also took the audience through MTP IV linkages to BETA highlighting the BETA Core Pillars such as:

Agriculture, Micro, Small and Medium Enterprise (MSME) Economy, Housing and Settlement, Healthcare, Digital Superhighway and Creative Economy.

The presentation spelt out the objectives of BETA which are: Bringing down the cost of living by lowering the annual inflation rates to 5 percent, Eradicating hunger, Creating 1,200,000 jobs annually, Expanding the tax base to increase revenue collection to 19.7 percent of GDP by 2027/2028, Improving foreign exchange balance through promotion of exports in order to improve reserves to 6.1 months of import cover and achieving inclusive growth – leaving no one behind.

On the MTP IV SECTORS, which form the key programmes priorities for implementation during the medium term period, the PS summarized the sectors aspects as; Finance and production, Infrastructure, Social, Environmental and Natural Resources,

and Governance and Public Administration.

Other key areas that were covered in the presentation included; MTP IV VALUE CHAINS and MTP IV FOCUS AREAS FY 2025/26.

For a full presentation, log into: www.planning.go.ke