«Back to Home
Roundup: Kenya unveils 25 bln USD fiscal budget to revive economy
Xinhua
12 Jun 2020, 05:44 GMT+10
NAIROBI, June 11 (Xinhua) — Kenya on Thursday presented a 2.7 trillion shillings (25 billion U.S. dollars) 2020-2021 fiscal budget that starts on July 1, intended to revive the economy following shocks from COVID-19, locusts invasion and flooding.
Ukur Yatani, Cabinet Secretary for the National Treasury of Kenya said the shocks will reduce economic growth from an earlier projection of 6.1 percent growth in 2020 to 2.5 percent but will recover significantly in 2021.
Kenya, East Africa's largest economy by size, themed its budget on stimulating the economy to safeguard livelihoods, jobs, businesses and industrial recovery as it plans to reopen its economy later this month, the Cabinet Secretary said during the budget presentation in parliament.
Kenya, Yatani said, is currently developing a post-COVID-19 economic recovery strategy.
To expand opportunities for local enterprises, Yatani said the government will in the coming weeks issue a list of compulsory items for local procurement to promote the "Buy Kenya Build Kenya" initiative.
The government said the stimulus package will focus on keeping the food supply chains functional while promoting the use of locally produced goods and services, thus securing the livelihoods of daily wage earners.
At the core of this package is a plan to create waged employment for young people in urban areas under a project known as the "Kazi Mtaani Programme".
"At least 200,000 youth will be engaged in fumigation, stormwater drainage works, cleaning of markets and informal settlements, rehabilitation and maintenance of access roads, footbridges and footpaths and other environmental management activities," said Yatani.
Significant spending was also announced in the recruitment of 10,000 intern teachers, first to provide an opportunity for a large pool of unemployed teachers and to help meet the new policy of 100 percent transition from primary to secondary schools for each Kenyan child.
Yatani also announced the formation of a credit guarantee scheme that will enable small and medium scale businesses to access credit facilities from banks at a subsidized interest rate. The scheme will be financed by the government and willing donors.
This is in addition to tax refunds that are being given to businesses by the government, he said.
Kenya will also recruit additional 5,000 nurses as part of improving health care services. Earlier, President Uhuru Kenyatta announced that Kenya requires at least 33,000 beds to respond effectively to a possible surge in COVID-19 infections.
Additional cash pledge was made for investment in providing cheaper farm inputs and investing in additional irrigation systems at the small scale level.
The government also announced a kitty to support flower and horticultural farmers whose mainstay export market has been disrupted by COVID-19.
To support tourism sector, Yatani announced a temporary lifting of ban to hold meetings in private hotels by government agencies which had been the art of cost-cutting measures and waived landing and parking fees at airports in order to facilitate the movement of cargo in and out of Kenya.
"Going forward, the government will scale up efforts to boost the tourism sector by promoting aggressive post-COVID-19 tourism marketing and providing support for hotel refurbishment through soft loans to be channeled through the Tourism Finance Corporation," he said.
The government also announced grants to 160 community conservancies, and support to Kenya Wildlife Services to engage 5,500 community for a period of one year, he said.
Yatani said Kenya will adopt an e-government procurement model starting December 2020 where all procurement processes will be undertaken on an online platform to reduce costs, increase efficiency, transparency, accountability and visibility.
Kenya had already taken pre-budget measures to caution its citizens through injection of cash and provision of additional disposable incomes to the people and businesses, reduction of business and personal taxes among others, and emergency borrowing from various lenders to finance emergency response to the pandemic.
More Africa News
Access More 
Covid-19 death toll at 1 354, cases hit 61 927
The Africa News.Net
Man sentenced to 50 years in prison for string of crimes
The Africa News.Net
Coronavirus Spreading Fast in Developing World
The Africa News.Net
SAA returns 17 aircraft after lessors begin termination of leases
The Africa News.Net
Burundi Court Orders New President Sworn In Soon as Possible
The Africa News.Net
In Oakland, Citizen-Run Police Commission Is Already Making Waves
The Africa News.Net
France captain headlines Toulon's push into 'new era'
The Africa News.Net
Thabang Moroe's salary continues to eat into CSA coffers
The Africa News.Net
With Eyes on Policing, Oakland Looks to Change
The Africa News.Net
How DC Mayor Bowser used graffiti to protect public space
The Africa News.Net
Coronavirus may force IPL out of India – chairperson
The Africa News.Net
Reporter's Notebook: Dont Judge Me by the Color of My Skin
The Africa News.Net
UNHCR Launches $186 Million Appeal forSahelDisplacement Crisis
The Africa News.Net
The effect 2010 had on Pitso Mosimane
The Africa News.Net
Wayde van Niekerk '100% ready' for return after 2-year lockdown
The Africa News.Net
Clemson changes building name after urging of Hopkins, Watson
The Africa News.Net
India axe Zimbabwe cricket tour over coronavirus
The Africa News.Net
Former Stormer Nizaam Carr joins Bulls
The Africa News.Net
Students demand removal of 'mild racist' from Georgia landscape
The Africa News.Net
Could China's strategic pork reserve be a model for the US?
The Africa News.Net
Atlanta students demand removal of 'mild racist' from Georgia landscape
The Africa News.Net
Sign up for The Africa News
a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!
null in null
All Africa News Headlines
Shock decline in business confidence in South Africa
The Africa News.Net
Family, friends and strangers bid farewell to George Floyd in Houston
The Africa News.Net
Asylum seekers in Canada help govt to fight against coronavirus
The Africa News.Net
MS Dhoni is the biggest superstar in cricket, says Dwayne Bravo
The Africa News.Net
Varner still leads, McIlroy makes move at Colonial
The Africa News.Net
Covid-19 death toll at 1 354, cases hit 61 927
The Africa News.Net
Reporter's Notebook: Dont Judge Me by the Color of My Skin
The Africa News.Net
Man sentenced to 50 years in prison for string of crimes
The Africa News.Net
UNHCR Launches $186 Million Appeal forSahelDisplacement Crisis
The Africa News.Net
Coronavirus Spreading Fast in Developing World
The Africa News.Net
The effect 2010 had on Pitso Mosimane
The Africa News.Net
SAA returns 17 aircraft after lessors begin termination of leases
The Africa News.Net
Wayde van Niekerk '100% ready' for return after 2-year lockdown
The Africa News.Net
Burundi Court Orders New President Sworn In Soon as Possible
The Africa News.Net
Clemson changes building name after urging of Hopkins, Watson
The Africa News.Net
In Oakland, Citizen-Run Police Commission Is Already Making Waves
The Africa News.Net
India axe Zimbabwe cricket tour over coronavirus
The Africa News.Net
France captain headlines Toulon's push into 'new era'
The Africa News.Net
Former Stormer Nizaam Carr joins Bulls
The Africa News.Net
Thabang Moroe's salary continues to eat into CSA coffers
The Africa News.Net
Students demand removal of 'mild racist' from Georgia landscape
The Africa News.Net
With Eyes on Policing, Oakland Looks to Change
The Africa News.Net
Could China's strategic pork reserve be a model for the US?
The Africa News.Net
How DC Mayor Bowser used graffiti to protect public space
The Africa News.Net
Atlanta students demand removal of 'mild racist' from Georgia landscape
The Africa News.Net
Coronavirus may force IPL out of India – chairperson
The Africa News.Net
UN voices 'horror' after reports of Libya mass graves
The Africa News.Net
COVID-19 Spread Speeding up in Africa, WHO says
The Africa News.Net
COVID-19: BCCI cancels India's tours to Sri Lanka, Zimbabwe
The Africa News.Net
Where to watch as LIVE sport returns to SA screens this weekend
The Africa News.Net
Central Africa News
Shock decline in business confidence in South Africa
The Africa News.Net
MS Dhoni is the biggest superstar in cricket, says Dwayne Bravo
The Africa News.Net
Covid-19 death toll at 1 354, cases hit 61 927
The Africa News.Net
Man sentenced to 50 years in prison for string of crimes
The Africa News.Net
Coronavirus Spreading Fast in Developing World
The Africa News.Net
SAA returns 17 aircraft after lessors begin termination of leases
The Africa News.Net
Access More
New Releases
The Africa News.Net's News Release Publishing Service provides a medium for circulating your organization's news.
Twitter Feed
International News
Trump only interested in scoring political points, claims North Korea
The Africa News.Net
Pakistan censorship of news could suit China's aspirations
The Africa News.Net
No place for military in domestic politics, says Pentagon chief
The Africa News.Net
United States reaches grim milestone of 2 million coronavirus cases
The Africa News.Net
Trump top hold roundtable discussion on 'historic disparities'
The Africa News.Net
Germany Confirms U.S. Eyeing Troop Cuts Despite Concerns Over Russia
The Africa News.Net
World leaders, many of whom are women, coping best during pandemic
The Africa News.Net
Camp David pile-on is last thing Australian PM needs
The Africa News.Net
Family, friends and strangers bid farewell to George Floyd in Houston
The Africa News.Net
Report: Irving asks NBA players to sit as protest of racism
The Africa News.Net
Access More
