Treasury Principal Secretary Chris Kiptoo announced that Kenya’s economic performance has shown significant progress this year, citing reduced inflation, a stronger national currency (the shilling), and steady foreign currency reserves.
He delivered this statement while attending the 2025 End-of-Year Public Service Reflection Dinner and the 2026 Agenda Setting Forum in Kisumu on Friday, December 5, 2025.
Kiptoo noted that overall trends throughout the year have remained largely positive, with various economic indicators demonstrating consistent performance despite a challenging global economic climate.
He stated, “Since the start of this year, our economic prospects have remained firm and robust, supported by sound overall economic management and coordinated government spending and central bank policies.”
He further mentioned that inflation decreased in November, attributing this to more stable food costs and a less volatile currency exchange rate. Inflation dropped to 4.5 percent in November, aided by declining food prices and a steady exchange rate.
Kiptoo also highlighted the strength of the Kenyan shilling and the nation’s foreign currency reserves during the same period. He noted that the Kenyan shilling has maintained its value against leading global currencies, while foreign exchange reserves were sufficient, standing at USD 12,030 million (enough to cover 5.2 months of imports) as of December 4.
He added that financial markets also displayed a steady upward trend throughout the year. Kiptoo stated that these positive movements in financial markets align with the President’s long-term vision to transform the country into a major global economic force with prosperous industries.
The Kisumu meeting, organized by Felix Koskei, the Chief of Staff and Head of Public Service, gathered top public sector officials to review the year’s accomplishments and establish objectives for 2026. Kiptoo characterized the gathering as an opportunity to reflect and adjust priorities with the aim of improving public services.
He noted that the event provided clear direction for future actions, emphasizing that the dinner served as a crucial platform to assess collective achievements and define precise priorities for effective public service delivery in the coming year.
Kiptoo mentioned that he was recognized as one of the officials instrumental in driving public service reforms.
The Treasury Principal Secretary concluded that the discussions in Kisumu represent a significant step as government agencies get ready to implement the 2026 plan, prioritizing greater efficiency and enhanced public services.
