Prof. Njuguna Ndung’u launches the Human Development Report 2023/2024 at the Kenyatta International Convention Centre in Nairobi (KICC).

National Treasury and Economic Planning Cabinet Secretary Prof. Njuguna Ndung’u giving his remarks during the launch of the  Human Development Report 2023/2024 at the Kenyatta International Convention Centre in Nairobi (KICC). The report is an annual publication of the United Nations Development Programme. According to the report, inequality is widening again worlwide after 20 years of convergence with the gap between the richest and poorest countries starting to widen from the year 2020.

The Cabinet Secretary noted that climate disasters have reversed the gains made to eradicate poverty in the past 20 years.

He said that strong growth is important in the fight against poverty and reducing inequality.

“The Kenyan economy has bounced back from these shocks recording a growth rate of 5.6 per cent in 2023 with inflation within set targets while Foreign Direct Investments is stepping up,” Prof. Ndung’u said, adding that the concern now is to protect that recovery.