May 18, 2022

Uhuru’s unveils Sh25bn stimulus to revive the economy

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President Uhuru Kenyatta has unveiled a Sh 25 billion economic stimulus package to jump-start the economy.
The goodies were announced on Wednesday during the Mashujaa day celebrations to create jobs and pacify his political base during the transitional government.
“{We} Will be rolling out the third financial stimulus designed to accelerate the pace of economic growth and sustain gains already made,” Uhuru said at Wang’uru stadium in Kirinyaga.
“The first and second stimulus packages were designed by my administration to ensure that our economy could endure shocks occasioned by the lockdown measures.”
The Sh 25 billion budget intends to widen the market and ensure better returns in tea, coffee, sugar and livestock farming.
Uhuru announced the third phase of Kazi Mtaani, a Sh 10 billion plan that will offer 200,000 youths menial jobs.
The president also directed the allocation of Sh8 billion for the construction of schools using local contractors and labour. Both sugar cane and livestock farming sub-sectors will receive Sh1.5 billion each.
Uhuru also said both electricity and fuel prices will be subsidized and announced that the Sh1 billion allocated to the tea sub-sector will go towards a fertiliser subsidy while the money allocated to sugarcane will be used for factories maintenance and payment of farmers’ arrears.
The Sh1.5 billion earmarked for the livestock sub-sector will be used to support communities that are facing drought.
The Agriculture CS is also expected to reduce the cost of animal and chicken feeds within the next seven days.

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