Infrastructure key to recovery — Kalonzo
By Luke Anami
The Government will invest more in infrastructure to reduce the cost of doing business, Vice President Kalonzo Musyoka has said.
The VP told investors that more funds will be channelled towards growth supporting infrastructure such as roads, power and port facilities in order to improve the business enviroment.
He said the plans will include downscaling of non-priority expenditure and eliminating wasteful processes.
"It will also involve undertaking labour intensive public works programmes, to enhance youth employment and guarantee reliability in credit flow to the private sector," he said.
Musyoka said the global financial crisis hurt key sectors such as tourism, horticulture, tea and coffee.
"The Government is awake to this reality, and consequently is undertaking labour intensive programmes to enhance youth employment," he said. He called for closer links between the Government and the private sector, saying the State would guarantee reliability in credit flow to the private sector for faster growth.
"It is important that African Governments work closely with the private sector to ensure credit crunches and bank collapses are avoided," said the VP.
Musyoka was speaking during the African Employers forum on the "Financial Crisis, Economic Recovery and Employment in Africa" conference held yesterday in Nairobi. To cushion African economies from negative effects of the global financial systems, the VP called for increased intra-Africa trade.
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