Day: August 7, 2023

Reading Time: 2 minutesSenator Osotsi: Economy’s Stability Hinges on Addressing Opposition Discord Moses Kinyamjui Published on: August 07, 2023 08:30(EAT) Vihiga Senator Godfrey Osotsi has emphasized that the goverment’s ambitious plan to stabilized the economy cannot be achieved without efffectively addressing the ongoing political discord with the opposition. Osostsi argues that as the opposition holds substantial representation within the nation, failure to reconcile with them will hinder effort to revitalize the struggling economy. During an appearance on Citizen TV’s Daybreak show on the monday, Osotsi conveyed his apprehension that the nation could be facing a standstill due to the government’s apparent lack of interest in resolving difference with the opposition. “Some may underestimate the significance of this issue, but Azimio holds influence over a significant portion of the country;s support. when such a substantial part of the nation opposes the current regime, it inevitably affect economic performance,” he explained. READ ALSO: “It would be in their best interest to address this matter promptly. Based on their approach, i am skeptical of their commitment to resolving the political situation in the country.” The legislator also warned that the surging economy is at risk of causing businesses to falter and Kenyans to lose employment opportunities. He suggested that Kenya Kwanza, an economic initiative, needs to prioritized organization and reconciliation. “Contrary to optimistic image postrayed by Kenya Kwanza, the situation is less than ideal. There are significant challenges that need to be addressed. This is evidenced by their decision to sign performance contracts a year after asuming office, indicating the presence of performance issues within the regime,” he noted “With the Finance Act’s effect, particularly the 1.5% Housing Levy, unemployment could surge. Employers might contemplate relocating to other countries due to the substantial strain.” These remarks coincide with President William Ruto’s assertion that the nation jhas successfully achieved economic stability and manage to debit crisis. Ruto claimed that his effort to stabilized the struggling economy over the past 8 months have borne fruit. ” I have engaged in numerous discussion with the World Bank, IMF, and other entities from which we have borrowed funds. I wanted to assure the people of Kenya that we have stabilized the economy, and we are no longer susceptible to debt threats. What i cannot permit is continuous indiscriminate borrowing for our nation,” he emphasize during a previous Thanksgiving service. As an alternative to borrowing, Ruto proposed that the nation will rely on revenue collection to sustain its operations. He encourage Kenyans to embrace his taxation proposals. “We will focus on tax collection within our borders. i will personally lead those who remit their taxes. We are seeking those tax revenues to independently support our country,” he asserted