{"id":10277,"date":"2020-06-27T18:18:34","date_gmt":"2020-06-27T18:18:34","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=10277"},"modified":"2020-06-27T18:18:34","modified_gmt":"2020-06-27T18:18:34","slug":"cbk-governor-forecasts-quick-rebound-from-coronavirus","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus","title":{"rendered":"CBK Governor forecasts quick rebound from coronavirus"},"content":{"rendered":"<p><strong>Author: AWAL MOHAMMED<\/strong><br \/>\n<strong>AfricaPress-Kenya:<\/strong> Kenya\u2019s economy has performed better than expected amid the onslaught by the coronavirus pandemic as the country inches closer to recovery.<\/p>\n<p>The Central Bank of Kenya (CBK) Governor Patrick Njoroge said the expectation that the country was going to sink so much further is cancelled out by the new economic data. He reckons growing farm exports and a recovery in remittances have helped improve an otherwise tough trading environment.<\/p>\n<p>The economy took a beating in April after the first Covid-19 case was reported, before picking up in May as Kenyans started to find ways to live with the virus.The CBK had earlier projected that the gross domestic product in the second quarter would decline due to the adverse economic impact caused by the virus. Yet, by May the country\u2019s key economic sectors started to emerge from the stranglehold of Covid-19, according to the Governor.<\/p>\n<p>\u201cWe are a diversified economy. We depend 20 per cent on our immediate neighbours, 40 per cent on the regional market and we boast of a diversified export market,\u201d said Njoroge during a press briefing yesterday.<\/p>\n<p>\u201cThis has cushioned us from experiencing extreme shocks to the economy.\u201d The agricultural sector, for instance, which contributes a quarter of the country\u2019s growth posted significant growth in May and June.<\/p>\n<p>Tea production rose by 23.5 per cent in May as horticultural exports increased by 22.7 per cent, moving closer to levels they were before the pandemic. Remittances from Kenyans living abroad \u2014 recovered to $258 million in May from $208 million in April.While the regional economy is expected to contract by 3.2 per cent, Dr Njoroge said Kenya might not feel the impact of the contraction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author: AWAL MOHAMMED AfricaPress-Kenya: Kenya\u2019s economy has performed better than expected amid the onslaught by the coronavirus pandemic as the country inches closer to recovery. The Central Bank of Kenya (CBK) Governor Patrick Njoroge said the expectation that the country was going to sink so much further is cancelled out by the new economic data. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":10273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1155,939,1293,2575,3962],"class_list":["post-10277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-cbk","tag-coronavirus","tag-economy","tag-patrick-njoroge","tag-smes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBK Governor forecasts quick rebound from coronavirus - kenya<\/title>\n<meta name=\"description\" content=\"Kenya\u2019s economy has performed better than expected amid the onslaught by the coronavirus pandemic as the country inches closer to recovery.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBK Governor forecasts quick rebound from coronavirus\" \/>\n<meta property=\"og:description\" content=\"Kenya\u2019s economy has performed better than expected amid the onslaught by the coronavirus pandemic as the country inches closer to recovery.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-27T18:18:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/06\/economy_pulls_throug5ef65b01ef444.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"543\" \/>\n\t<meta property=\"og:image:height\" content=\"319\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBK Governor forecasts quick rebound from coronavirus\",\"datePublished\":\"2020-06-27T18:18:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus\"},\"wordCount\":285,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/06\/economy_pulls_throug5ef65b01ef444.jpg\",\"keywords\":[\"CBK\",\"Coronavirus\",\"Economy\",\"Patrick Njoroge\",\"SMEs\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-governor-forecasts-quick-rebound-from-coronavirus\",\"name\":\"CBK Governor forecasts quick rebound from coronavirus - 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