President Uhuru Kenyatta has today announced Sh 53.7 billion Kenya Economic Stimulus programme to help businesses and Kenyans survive the economic turmoil caused by the deadly coronavirus pandemic.
Speaking from State House, the president said the programme will jump-start the country’s economy by pumping cash into various sectors.
Kenyatta said the move is aimed at mitigating the effects of COVID-19 which has slowed the economy since March, rendering thousands jobless after many business were closed down.
The country’s key sectors among them infrastructure, education, health, agriculture and tourism will benefit from the programme.
Other sectors that will benefit from the 8-point Kenya Economic Stimulus programme include the SMEs sub-sector, environment and manufacturing.
“To combat the effects of this downturn, my administration has had to take additional measures. Today I am happy to announce the rolling out of my 8-point programme amounting to some Sh 53.7 billion. The injection of this money into the economy will stimulate growth and cushion families and companies as together we navigate our way out of the COVID-19 pandemic,” Kenyatta said.
Kenya is the latest in countries around the world that have pledged stimulus packages to avert a glaring global economy recession.
More to follow…