National Treasury CS Henry Rotich. He has maintained that the country is economically stable. [Photo/Weru TV]
National Treasury Cabinet Secretary Henry Rotich has in a change of tune said that the nation's economy remains strong and unshaken despite opposition alliance NASA's boycott of some high tax-paying companies' commodities.
Speaking during a press briefing in Nairobi Thursday, Rotich who had on Tuesday listed politicking and drought as some of the causes of the slowed economic growth rate maintained that the economy is steady saying that his ministry is actually anticipating a bigger leap in the near future.
He said that the country has managed its debts with billions of foreign currency tickling in, further anticipating that the current rainfall in most parts of the country will boost agriculture, the backbone of the nation's economy.
''To demonstrate the stability of our economy, our Foreign Exchange Reserves stand at 8 Billion Dollars translating to an import cover of about 5 months.We have kept our fiscal deficit at a manageable level and will keep that up,'' he is quoted by the Star.
''The fact that we have managed two presidential elections in a span of two months goes to illustrate the resilient nature of our economy. All economic fundamentals are solid and Kenya is moving on,'' he is further quoted.
Rotich further objected NASA's boycott terming it as a wrong move and calling upon the alliance leaders to drop the shun.
''People calling for a boycott are not serious, it’s a backward way of doing things in a growing economy,'' said Rotich.