|
|
Kenya: Country Growth Set to Drop This Year
 |
|
|||||||||
|
||||||||||
The Citizen (Dar es Salaam)
28 March 2008
Posted to the web 28 March 2008
Jeff Otieno
Nairobi
The country's economic growth is expected to go down by between one and two per cent this year due to post-election violence.
According to the Government budget outlook paper, the economy is expected to grow by between five and six per cent compared to a record seven per cent last year.
However, Finance minister Amos Kimunya is optimistic that the 10 per cent growth target will be achieved by 2012.
"Key sectors of the economy have been adversely affected including the destruction of property, closure of some businesses and loss of many lives, but all that can change if we put in place proper programmes," Mr Kimunya said.
The minister, who spoke during the launch of the pre-budget hearings at Kenyatta International Conference Centre on Wednesday, said the violence witnessed early this year would have some negative effects on the country's economic growth momentum.
He said about Ksh31.5 billion would be needed to help revitalise key sectors affected by the violence, namely, infrastructure, business enterprises, tourism and agriculture over the initial period of the medium-term expenditure framework.
Mr Kimunya praised the accord signed by President Kibaki and ODM leader Raila Odinga, saying it had brought peace and stability to the country.
He described the violence as a turbulence, noting however that with urgent implementation of right policies the country would be back on the right track to economic growth.
On the distribution and creation of Cabinet posts, Mr Kimunya said the task was a President Kibaki's and Mr Odinga's affair.
|
The minister denied being involved in the negotiations for the new Cabinet, and maintained that he was not privy to the talks between the two principals.
He said he would continue working as the Finance minister until instructed otherwise by the President.
"I will continue discharging my duties as the minister unless otherwise. I do not want to be distracted by the issue of the new Cabinet," he added.
| |||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Copyright © 2008 The Citizen. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections -- or for permission to republish or make other authorized use of this material, click here. | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Make allAfrica.com your home page | RSS Feed | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Top | Site Guide | Who We Are | Advertising | Search | Subscribe | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Questions or Comments? Contact us. Read our Privacy Statement. | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
