Economic growth to hit 10 percent, says Kibaki (15/02/07)

 

The economy will grow by 10 per cent in the next four years, President Kibaki has said.

 
 
The President said current estimates showed that the economy grew by six per cent last year, up from 0.6 per cent four years ago, and predicted that the growth rate would be 10 per cent by 2011.

He said his Government's goal was to position the country as a preferred investment destination in the region, and called for closer partnership between the Government and the private sector to achieve that target.

"By working together, it is possible to abolish absolute poverty from our country in our lifetime. I have no doubt in mind that if we work together, we will achieve that goal, judging by what has already been achieved in the last four years," the President said:

Mr Kibaki was speaking at State House, Nairobi, at a meeting with representatives of the business community under the auspices of the Kenya Private Sector Alliance, chaired by Mr Lee Karuri.

Mr Karuri said business people had confidence in the Government and they fully supported the economic recovery policies.

The community presented a list of concerns it would like the Government to address, key among them improving the infrastructure, a faster public service and a better and sustained supply of electricity.

Said the President: "Our longer-term plan as spelt out in the Vision 2030, is to consolidate the economic and social gains we have made so far and accelerate economic growth to at least 10 per cent on sustained basis."

He announced that a public-private sector forum to be held quarterly had been established under the aegis of the Treasury to promote dialogue and partnership between the two sides with a view to building a prosperous country.

"I will also be meeting with the Forum from time to time to exchange views on emerging economic and other issues that may undermine investment in the country."

On infrastructure, President Kibaki said the Government had more than doubled the budget for repair and expansion of roads, airports, water and electricity supply, as well as telecommunications in the past four years.

"There are currently numerous projects being implemented in these sub-sectors with the objective of making Kenya's business and farming environment the most competitive in the region," he added.

The business community praised the President and the Government for creating an enabling environment that has led to rapid economic growth and the expansion of the private sector.

Others present were Finance minister Amos Kimunya, Trade minister Mukhisa Kituyi, Kenya Association of Manufacturers chairman Steve Smith and Federation of Kenya Employers chairman Karanja Kabage, among others.

Source: The Nation

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