Mr Henry Rotich, Cabinet Secretary to the National Treasury. Photo/FILE
In Summary
The Cabinet Secretary said that arising from the lessons of the tragedy, the Government is even more resolute to build a strong and broad-based pro-poor economy for all Kenyans.
By Nation Correspondent
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Kenya’s economy remains unshaken despite the recent Westgate Mall attack, the National Treasury Cabinet Secretary Henry Rotich has said.
Mr Rotich issued a press release in which he also consoled families and friends of those who died and wished quick recovery to those who sustained injuries Friday.
He said he remained upbeat that the economic policies and structural reform measures that had been put in place had helped to bolster resilience of the economy and fostered broad-based growth.
“The fundamentals of our economy remain sound and solid with economic activities across all sectors gaining momentum.
Long-lasting effects
“Tourism remains stable and we do not expect any long-lasting effects from the recent events,” Mr Rotich reassured Kenyans.
The Cabinet Secretary added: “Market players are upbeat about the economy while investor confidence is buoyant. As such, our plan to issue debut Sovereign Bond in the international market during this financial year remains on course”.
However, Mr Rotich noted that there were some direct and indirect costs including destruction of property due to the siege of the Westgate Mall.
These affect economic activities in wholesale and retail trade and services, he said.
“However, the overall contribution of economic activities at the mall forms an insignificant part of the wholesale and retail, hotels and restaurants as well as financial intermediation sectors of our economy,”
Mr Rotich added: “Therefore, we do not see any significant effect of the overall economic performance arising from the recent tragedy and growth objective for 2013 remains unchanged at around 5.5 to 6 per cent.”
The Cabinet Secretary said that arising from the lessons of the tragedy, the Government is even more resolute to build a strong and broad-based pro-poor economy for all Kenyans.
Forensic research
“In particular, creating a conducive business environment and enhancing the security of our people, investments and property will be given priority,” he said.
Mr Rotich said the Government will soon start a comprehensive medium-term security reform strategy covering infrastructure development, equipment, mobility, training and skill development forensic research and partnership with communities and security agencies.
The Cabinet Secretary added that they were speeding up implementation of various transport and infrastructure projects, expanding agricultural productivity and irrigation and providing quality education and healthcare throughout the country.
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