Event report

Breakfast Meeting with CBK on Economic and Financial Oulook

Insightful presentation by Dr. Kamau Thugge, Governor Central Bank of Kenya.

On 1st February, 2024, we held a Breakfast Meeting led by Dr. Kamau Thugge, CEO Central Bank of Kenya. 

Here are some of the insights from the engaging presentation on Recent Macroeconomic Developments and Outlook for Kenya;

1. Economic Comeback:

  •  Strong rebound in 2023 at 5.6% growth.
  •  Expected to soar to 5.9% in 2024.
  •  Agriculture, resilient services, and savvy macroeconomic policies driving the momentum

2. Inflation Insights:

  •  From a peak of 9.6% (Oct '22) to a steady 6.9% (Jan '24).
  •  Maintaining stability within the 2.5% – 7.5% target range

3. Financial Resilience:

  •  Current account deficit narrowed in 2023.
  •  Stability expected in 2024 with lower imports and strong remittances.

4. Fiscal Fitness Focus:

  • Ongoing fiscal consolidation - a key player in reducing the deficit and stabilizing public debt.

5. Investment Magnet:

  •  Kenya's revamping itself, implementing reforms to attract global investments.

 Thank you to the Central Bank of Kenya for honoring our invite and for the insightful presentation today.

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