Kenya plans $503 million economic stimulusChristian Fernsby ▼ | May 20, 2020
Kenya plans to spend 53.7 billion shillings ($503 million) on a stimulus package to support businesses that have been hit by the coronavirus pandemic, according to the National Treasury.
Treasury Secretary Ukur Yatani
The Treasury doesn’t expect the stimulus program to affect the budget deficit, which it projects to decline to 7.3% of gross domestic product in 2020-21 from an estimated 8.2% in the year through June. The fiscal intervention will be funded through transfers from other items in the budget, financial aid and surpluses from state-owned corporations, according to Yatani. ■