A massive stimulus programme to jump-start the country’s economy has been unveiled.
The program will Sh53.7 billion pumped into various sectors.
Speaking at Statehouse on Saturday during the event, President Uhuru Kenyatta said the move is aimed at mitigating the effects of COVID-19.
The situation of COVID-19 has slowed the economy since March, rendering thousands jobless after many business were closed down.
The new unveiled program focuses on key sectors among them infrastructure, education, health, agriculture and tourism.
Other sectors that will benefit from the 8-point 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 stimulus programme amounting to some Sh53.7 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.
President Kenyatta reiterating that he is keen to see the revival of the tourism industry and has set aside Sh2 billion to support renovation of facilities and the restructuring of business operations in the tourism industry.
COVID-19 cases had reached 1,192 Saturday, with the confirmation of 31 new infections.