President Uhuru Kenyatta meeting his economic team at National Treasury on November 22, 2017. PHOTO | PSCU
President Uhuru Kenyatta and his team of economic advisers
Wednesday held meetings with officials of the National Treasury ahead of
his swearing-in for a second term next week.
The
meetings were a continuation of discussions the President and his team
started after the Supreme Court upheld his win in the October 26
election.
This was the third time the President was
meeting with the economic team in the last three weeks, following his
declaration as winner in the October 26 repeat election by the
Independent Electoral and Boundaries Commission (IEBC).
SWEARING-IN
Wednesday’s meetings came against a backdrop of intensified preparations for Tuesday’s swearing-in of President Kenyatta.
Chief
of Defence Forces General Samson Mwathethe led the military in a full
dress rehearsal at the Moi International Sports Centre, Kasarani – the
venue of Tuesday’s swearing-in ceremony.
In the
elaborate, meticulous rehearsals, the military took its members through
what will be expected of them when they usher in their
Commander-in-Chief for a second term on Tuesday.
Gen
Mwathethe rode in the Commander-in-Chief’s vehicle but with the Coat of
Arms and the initials CIC covered, as they are only uncovered when the
Head of State is riding the vehicle.
AGENDA
And,
as Gen Mwathethe entered the stadium in simulation of what the
President will do on Tuesday, the military’s master of ceremonies,
Warrant Officer II Gibson Mwandawiro – the man with the distinctive
voice that explains military traditions to the public and the
Commander-in-Chief – was on hand to direct the vehicle, and brief
journalists on what would happen on the swearing-in day.
At
the Treasury, the President, his economic team and National Treasury
officials continued with consultations that will inform the agenda that
he will lay before Kenyans on Tuesday during his swearing-in.
In the first and second meetings, President Kenyatta was briefed on ongoings in the energy and water sectors.
In the first and second meetings, President Kenyatta was briefed on ongoings in the energy and water sectors.
The
President and his team are expected to pitch for economic recovery once
he is sworn into office, to pull the country out of the stagnation it
has experienced courtesy of the long-drawn political and electoral
crisis.
ELECTION CRISIS
The
National Treasury has already cut this year’s growth target to 5 per
cent from 5.9 per cent as the protracted election crisis checked
investment and drought curbed farm yields.
The growth
target review was done after losses from the prolonged electioneering
period hit Sh130 billion and estimated at 1 per cent of Gross Domestic
Product.
Last month, the International Monetary Fund
(IMF) cut Kenya’s forecast to 5 per cent from 5.8 per cent while the
Kenya Private Sector Alliance said that they have lost Sh700 billion due
to the prolonged electioneering.
Kenya Revenue Authority (KRA) has said that it lost about Sh50 billion in revenue collection during this poll crisis.
The
Sh2.6 trillion budget has been amended to include “austerity measures
for the current fiscal year to accommodate unplanned expenditures such
as the rerun of the election, National Treasury Secretary Henry Rotich
said in September.
The Treasury has further revised its
2017/18 budget deficit forecast to 8.5 per cent of gross domestic
product from 6.8 per cent. The government recorded a 9.2 per cent
shortfall in the year through June 2017.
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