• April 23, 2024
  • Last Update April 23, 2024 10:40 PM
  • Nairobi

Ruto rolls-out ambitious medium term plan to spur economic growth

Politics

By Peter Ochieng

President William Ruto has assured Kenyans that his administration is implementing crucial development programs, aimed at facilitating a radical economic turnaround going into the future.

Speaking on Thursday at State House, Nairobi, during the launch of the Fourth Medium Term Plan 2023-2027, a phase of Kenya Vision 2030, Ruto said the government is keen on fostering inclusive growth and prosperity by enhancing the livelihoods of all citizens, particularly those at the bottom of the economic pyramid.

To achieve this, Ruto said, the Fourth Medium Term Plan 2023-2027 and County Integrated Development Plans (CIDPs) are aligned with the Bottom Up Economic Transformation Agenda (BETA) priorities.

“The Fourth Medium Term Plan has translated the strategic objectives set out in our agenda into concrete programmes and projects to be implemented in the period,” he stated.

For the next four years, the President said the government will focus on boosting production through value chains, specifically targeting leather and leather products, textile and apparel, dairy, tea, rice, edible oils, blue economy, minerals, forestry, construction and building, among others.

“We will also focus on cooperative development and management, market access and logistics support, expansion of irrigation infrastructure, adoption of climate-smart agriculture, enhanced agricultural financing, and agricultural mechanisation research and development.”

Further, he said the government is investing in Special Economic Zones, County Aggregation and Industrial Parks, diversifying export markets and market access of micro, small and medium enterprises’ goods and services, in a bid to facilitate job creation.

“We undertake to mobilise funding for research and development, and enhance budgetary allocations to the sector towards the attainment of 2% of GDP in line with international standards,” he said.

President Ruto pointed out that the government is scaling up the Hustler Fund to increase access to affordable credit by those at the bottom of the pyramid.

On healthcare, the President said the government will expand the Social Health Insurance Scheme to cover 10.8 million households, digitising health services and improving health infrastructure.

“Over 20,000 health workers will be recruited to support the health commodities supply chain,” he added.

Prime Cabinet Secretary Musalia Mudavadi said the plan will provide the framework, that will guide the government as it engages with international partners and the private sector.

On the other hand, National Treasury and Economic Planning Cabinet Secretary Njuguna Ndung’u said the Medium-Term Plan 2023-2027, will serve as a guiding post and Kenyans can expect to see results by 2027.

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