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Economic growthKenyan economy is showing strong recovery this year after it recorded a 5.3 percent growth in Gross Domestic Product (GDP) last year.
National Treasury Cabinet Secretary Mr. Henry Rotich said following the good economic indicators and signals, the country’s GDP is therefore expected to grow by 6 percent this year.
“This resilient performance of the economy despite experiencing a number of domestic and external shocks is testament to the successful economic transformation programme that the Government has put in place so far”, said Mr. Rotich.


The National Treasury Cabinet Secretary made the remarks at Hilton Hotel, Nairobi, during the East Africa Microfinance Summit and exhibition which attracted several businessmen from the East African region.
Mr. Rotich said the broad based and diversified nature of the Kenyan economy has mitigated against shocks in key sectors such as the tourism sector which was hit by travel advisories and insecurity incidents early this year.
He commended the financial sector, especially the microfinance sub-sector for providing Kenyans with financial services, especially the low income segment of the economy.
The Cabinet Secretary underscored his Ministry’s commitment to facilitate the country’s development of microfinance sector and that of the entire East African region, saying sound policy and safe regulatory environment have been provided for the microfinance institutions to thrive.

Mr. Rotich said his Ministry also facilitated the enactment of microfinance, competition and consumer protection and the development of regulatory framework for payment systems and anti-money laundering mechanisms to promote and protect microfinance institutions and customers countrywide.
“My Ministry is working closely with the East African Community States (EAC) and the EAC Secretariat to foster harmonization and integration of microfinance and other financial system sub-sectors in the region within the time frames provided for in the East African Monetary Union Protocol”, he added.
Mr. Rotich commended the Association of Microfinance Institutions and the East Africa Microfinance Network for organizing the East Africa Microfinance Summit and exhibition in Nairobi which he said has opened many opportunities for the business community in the region.
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