Naivasha: The Economists Society of Kenya (ESK) national Chairman, Dr. Dunstone Wafula, stated that Kenya stands at a crucial juncture in its economic journey amid global economic turbulence. There are indications of the country's resilience and potential to withstand these challenges.
According to Kenya News Agency, Wafula praised government efforts, noting that while inflation remains a concern, it has been brought under control. Key sectors like agriculture, technology, and manufacturing are showing progress. Historically, inflation in Kenya peaked when the shilling traded at over Sh150 per dollar. The gradual reduction in inflation is stabilizing prices and restoring Kenyans' purchasing power. The government's focus on economic diversification, infrastructure development, and human capital investment has laid a foundation for future growth.
Wafula was speaking in Naivasha during the 2025 Capacity Building Workshop for Economists, themed 'Building Core Competencies in Economic Planning and Management.' The five-day forum aims to highlight the importance of equipping economists with technical skills to support the government's economic transformation efforts. The workshop seeks to enhance technical capabilities and support government efforts for sustainable and inclusive economic growth. Economists play a crucial role in shaping policies that guide national economic growth.
The chairman urged his peers to seize the workshop opportunity to develop strategies addressing immediate economic challenges and long-term national goals. He emphasized the role of economists as custodians of knowledge and catalysts for positive change, advocating for effective economic planning, resource mobilization, and innovative policy formulation to achieve lasting prosperity in Kenya.
Wafula reiterated the government's efforts to improve the business environment, reduce the fiscal deficit, and promote infrastructure investments. He stressed that economists must support planning processes with evidence-based strategies, forward-thinking economic models, and effective resource management.
The workshop discussions will focus on budgeting, resource mobilization, economic planning, and evidence-based policymaking for effective resource allocation and sustainable development. Wafula emphasized that economists must provide data-driven insights to inform government decision-making. The workshop aims to enhance skills in project costing, revenue forecasting, and economic modeling to improve government fund allocation efficiency and support government strategies in revenue collection.
Wafula noted the importance of public-private partnerships (PPPs) in closing infrastructure gaps, driving innovation, and fostering development. Economists must actively contribute to crafting effective, sustainable, and actionable policies to support these partnerships.
The Economists Society of Kenya (ESK) is a professional body advancing economists' roles in planning, budgeting, policy development, research, and analysis to influence county, national, and regional development for sound economic pathways. The Society was officially registered in 2015 as a non-political professional body.