Govt to lower inflation by double digit
30 September 2013, 17:55
Nairobi - The Cabinet Secretary Ministry of Planning and Devolution, Anne Waiguru, has said the government will ensure that the rate of inflation drops by double digit as outlined in the Jubilee manifesto.
Addressing various delegates drawn from the European Union, United Nations Development Programme (UNDP), and the African Development Bank during the launch of the African Economic Outlook 2013 on Monday, Waiguru said the government is moving towards policy implementation to ensure economic growth despite the unfavorable economic challenges the continent has experienced.
"For the past decades, Africa has gone through a turn around in economic performance but today it's inflation has dropped by half although growth in some countries remain subdued due to poor infrastructure and rising levels of poverty," said Waiguru.
"Kenya has not been left behind in economic growth as it realised a rising growth rate of 4.6% in 2012, and look forward to attaining 6.5% in 2013 after the launching of Uwezo Fund to create more job opportunities for youths, women and other marginalised groups," she added.
Waiguru stated that the enhancement of green growth in the economy has great potential of unlocking economic growth and development especially by modernisation of agriculture for increased production to keep the economy more sustainable.
She said that curbing inflation by double digit through poverty eradication by proper resource management and distribution, fighting income inequality, and fostering of a dynamic economy will keep the economy vibrant.
Waiguru further said the launch of the African Economic Outlook 2013 is a milestone of addressing crucial issues to be put into consideration towards achieving remarkable growth in African economy.
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