7 days ago
Kenya's Fiscal Consolidation Can't Be Pushed Further, Mbadi Says
Kenya plans to switch to privatization to stimulate the economy after exhausting fiscal consolidation, its Treasury secretary said, ahead of talks with the International Monetary Fund for a new program.
'Having pursued fiscal consolidation over the last three years, the policy has now reached optimal levels and hence can't be pushed further,' John Mbadi told lawmakers on Monday. 'In this case an economic stimulus mechanism must be pursued,' he said as he sought lawmakers' approval to list part of its stake in state-owned Kenya Pipeline Co. via an initial public offering on the Nairobi bourse.
