Kenya forecasts 6.3% growth in 2019, Uhuru Kenyatta says
Kenya plans to boost output by setting up a credit guarantee scheme for SMEs, Kenyatta said in his state of the nation address
Nairobi —Kenya's economy should grow an improved 6.3% in 2019, President Uhuru Kenyatta said on Thursday, citing a better business environment and his government's push to boost manufacturing, food production and access to housing. In 2018, growth was an estimated 6.1%, he said. "We expect an even stronger growth … reflecting continued improvement in the business environment, momentum associated with execution of the Big Four Agenda, and sustained macroeconomic stability," he told parliament. The government also plans to boost output by setting up a credit guarantee scheme for small and medium businesses, he said in his annual state of the nation address. "We will be launching an SME credit guarantee scheme in a few weeks, aimed at deepening their access to credit without being subjected to complex application procedures and collateral requirements," Kenyatta said. Small and medium businesses have been hardest hit since the government put a cap on commercial lending rates in late 20...
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