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:
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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.
