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Breaking: Uhuru announces Ksh.53B stimulus plan to jumpstart economy, Raila to play critical role

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President Uhuru has given a strong hint that his government may soon easy the stringent anti-covid measures and open up the economy with revised measures on how to cub the pandemic but still allow businesses to thrive. He unveiled a sh.53Billion stimulus package anchored on 8 pillars. Uhuru is yet to name the Economy Recovery Council that is said to comprise of eminent personalities to be chaired by Prime Minister Raila Odinga.

ECONOMIC STIMULUS:
HE the President has announced allocation of Kes53.6B package anchored within 8 pillars;

1): Infrastructure; rehab roads & Bridges. 5B allocated to Local Sourcing Program (LSP)

2): Education – project restart. 6.5B additional funds. Hire more teachers & ICT officers for Digital learning. Acquire more school furniture via LSP

3): MSME – 10B pay pending bills. 3B for seed capital within Credit Guarantee Scheme

4): Health – Hire additional 5K staff. 1.7M to expand bed capacity via LSP. Investment in medical research

5): Agriculture – 3B for farm inputs. 1.5B for horticulture producers in reaching the market.

6): Tourism – 2B as Soft loans to Hotels.

7): Environment – repair dams. Afforestation program. Greening Kenya program

8): Manufacturing – Buy Kenya-Build Kenya initiative. 600M to buy locally built vehicles.

Other eminent personalities that Uhuru is set to name to the Economy Recovery Council include Dr Mukhisa Kituyi, H E Governor Isaac Ruto, Martin Oduor Otieno, Sabdiyo Dido Bashuna, Sheilla M’bijiwe and Prof Terry Ryan.

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