Treasury, IMF differ on economic growth status VICTOR JUMA The International Monetary Fund (IMF) and the Treasury have differed on whether Kenya’s economy contracted last year in the wake of Covid-19 pandemic. IMF officials who concluded talks for budget support loan with Treasury officials on Monday predicted the Kenyan economy contracted by 0.1 per cent last year on the negative impact of the coronavirus pandemic lockdowns. Separately, Treasury expects growth at 0.6 per cent on slight recovery at the end of the year following two consecutive quarters of contraction. “Economic growth is estimated to slow down to around 0.6 per cent in 2020 from the earlier projection of 2.6 per cent in the 2020 Budget Review and Outlook Paper (BROP),” Treasury Cabinet Secretary (CS) Ukur Yatani said yesterday in the Budget Policy Statement for 2021. The Treasury said they arrived at the estimates following receipt of more recent indicators and taking into account the quarte
Kenya s trade deficit drops Sh205bn on lower imports
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International arrivals drop 71 5pc on Covid curbs
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THE STANDARD By
Macharia Kamau |
February 16th 2021 at 09:36:15 GMT +0300
Oil marketers sink billions increasing cooking gas plants but stick to high consumer prices.
Oil marketing companies have in the recent past sunk billions of shillings in the construction of cooking gas handling facilities as they angle for a piece of the growing local LPG market.
The private sector players are now betting on the unregulated petroleum subsector, with profit margins for diesel, petroleum and kerosene shrinking further amid tightening price controls by the State.
Despite the competition that has come with the growth in the number of refiling plants, it has not resulted in lower consumer prices.
Nairobi Firm Wants PhD Holders Only for Internship Program
Jobseekers wait to hand in their documents during recruitment at County Hall in Nairobi, 2019.
Twitter
A Nairobi-based firm has announced an internship program for graduates in the Information Technology (IT) Computer Software and Financial Services. However, the firm is seeking PhD graduates only who would be employed on a full-time basis.
International Business Machines Corporation (IBM) is an American multinational technology company headquartered in Armonk, New York, with operations in over 170 countries including Kenya.
IBM Kenya is located at the Atrium in Starehe Constituency along Chaka Road in Nairobi. The advert posted on social media pages and job websites said that Africa is poised to become a leading source of innovation in a variety of sectors with an expected growth rate of 7 percent annually over the next 20 years.