COVID-19: Kenyatta unveils $502 million national economic stimulus programme

23 Mai 2020

Nairobi, Kenya, May 23 (Infosplusgabon) - President Uhuru Kenyatta on Saturday unveiled a massive stimulus programme to jump-start Kenya's economy by pumping $5O2 million into various sectors, to mitigate the effects of the coronavirus pandemic, which slowed down the economy since March.

It has rendered thousands jobless as a good number business entities in the country closed down.

Kenyatta unveiled the programme as coronavirus cases reached 1,192 on Saturday following the confirmation of 31 new cases.

The country's death toll remains 50, while recoveries stood at 380.

Updating the nation  on the government's efforts in combating the disease, Kenytta said the programme focuses on five key sectors - infrastructure, education, health, agriculture and tourism.

The 8-point stimulus programme did not leave out SME sub-sector, environment and manufacturing.

Kenyatta, a former finance minister, said he wants to see the revival of the tourism industry and has set aside Sh2 billion for the sector.

The funding will support renovation of facilities and the restructuring of business operations in the industry. Tourism was badly hit by the outbreak of the disease, culminating in the closure of hotels and tourist destinations.

Kenya restricted travel and banned passenger flights from the country, aiming to curb the spread of the disease.

“To combat the effects of this downturn, my administration has had to take additional measures,'' said Kenyatta.

''Today I am happy to announce the rolling out of my 8-point stimulus programme amounting to $502 million,'' he said

"The injection of the money into the economy will stimulate growth and cushion families and companies as together, Kenyans navigate our way out of the COVID-19 pandemic," he added.

FIN/ INFOSPLUSGABON/OKL/GABON2020

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