@CapitalFMNews

Rotich defends 2018 budget, the highest in Kenya’s history

4 months ago, 14 June 16:43

By: Margaret Njugunah

, NAIROBI, Kenya, Jun 14 – Treasury Cabinet Secretary Henry Rotich has defended the rise in yearly budgetary allocations since the Jubilee Government took over.

Rotich says the economy has, for instance, grown by an average of 5.6 per cent per year for the last five years, outperforming the average growth rates of previous five years from 2008 to 2012.

“As a country, we have come a long way. There were numerous obstacles that we found along the way. We had a huge infrastructure gaps, our capacity of producing energy were very limited, we needed to modernize the education system and the healthcare system was overstretched,” Rotich said while addressing Parliament in Kenya’s capital.

The Cabinet Secretary is expected to reveal how the country will finance a record Sh3 trillion budget, the biggest in Kenya’s history.

“We are now relishing the benefits of an expanded economy that is more competitive, not only in the region but also in the continent,” he said.

He adds that the 2018-2019 budget will focus on creating jobs for the youth by enabling key enablers, adding that the government has aligned resources to meet the Big four agenda of affordable housing, universal health care, food security and manufacturing.


Read More


Category: business finance

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@CapitalFMNews

Rotich defends 2018 budget, the highest in Kenya’s history

4 months ago, 14 June 16:43

By: Margaret Njugunah

, NAIROBI, Kenya, Jun 14 – Treasury Cabinet Secretary Henry Rotich has defended the rise in yearly budgetary allocations since the Jubilee Government took over.

Rotich says the economy has, for instance, grown by an average of 5.6 per cent per year for the last five years, outperforming the average growth rates of previous five years from 2008 to 2012.

“As a country, we have come a long way. There were numerous obstacles that we found along the way. We had a huge infrastructure gaps, our capacity of producing energy were very limited, we needed to modernize the education system and the healthcare system was overstretched,” Rotich said while addressing Parliament in Kenya’s capital.

The Cabinet Secretary is expected to reveal how the country will finance a record Sh3 trillion budget, the biggest in Kenya’s history.

“We are now relishing the benefits of an expanded economy that is more competitive, not only in the region but also in the continent,” he said.

He adds that the 2018-2019 budget will focus on creating jobs for the youth by enabling key enablers, adding that the government has aligned resources to meet the Big four agenda of affordable housing, universal health care, food security and manufacturing.


Read More

Category: business finance

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2 hours ago, 15:39
@CapitalFMNews - By: Kennedy Kangethe
Nairobi traders to protest Govt crackdown on substandard goods

NAIROBI, Kenya, Oct 15 - Nairobi Traders and Small business association will on Wednesday hold a major protest against what they term as government Kenya breaking news | Kenya news today | ...

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1 hours ago, 16:32
@CapitalFMNews - By: Kennedy Kangethe
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NAIROBI, Kenya, Oct 15 - KCB Group, Nairobi Securities Exchange (NSE), and Safaricom tied as the Top 3 companies with the best corporate governance Kenya breaking news | Kenya news today | ...

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SMEs credit seen staying low even after rate cap review

World Bank says removal of the floor on customer deposits could increase banks profitability without necessarily increasing lending ...

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9 hours ago, 08:12
@BusinessDaily - By: Brian Ngugi
DCI to probe Sh3bn cooking gas contracts

A third of the liquefied petroleum gas (LPG) cylinders supplied to Nock were defective. ...

Category: business news
7 hours ago, 10:29
@TheEastAfrican - By: Allan Olingo
Japan to fund only high-impact projects in Africa to save it from impending crisis

Tokyo to push for sound debt management by African governments. ...

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