Wednesday, April 17, 2024 - Central Bank of Kenya governor, Kamau Thugge, has said Kenya's economy has stabilised, going by how the Kenyan Shilling has strengthened against the dollar.
As of Wednesday morning, the Kenyan Shilling was trading at
132 units against the greenback.
In an interview with one of the local dailies, Thugge said
the performance of Kenya shilling paints the picture of Kenya's breathtaking
economic transformation under the Kenya Kwanza administration.
“The Kenya shilling opened the year 2024 trading at 157.82
and by the close of April 11, 2024, had appreciated by 17.4 percent to the
130.35 level.
The shilling appreciation partly reflects a change of
sentiment following the successful Eurobond issuance by Kenya and the
accompanying liability management of the maturing $2.0 billion June 2024
Eurobond.
The stronger shilling also reflects the impact of monetary
policy measures,” Thugge said.
Thugge also said the country will grow by 5.6 in 2024 and
5.7 in 2025 due to a rebound in the agriculture sector attributed to favourable
weather conditions.
“The economy is estimated to have expanded by 5.6 percent in
2023 and is projected to grow by 5.7 percent in 2024, mainly supported by the
rebound in the agriculture sector attributed to favourable weather conditions,”
Thugge said.
The Kenyan DAILY POST
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