Entry Instance

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{
    "id": 894378,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/894378/?format=api",
    "text_counter": 53,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Hon. Speakers, in the same reporting period, inflation averaged 4.6 per cent, remaining within the set targets. Our official foreign exchange reserves averaged USD 8.7 billion in the review period, representing 5.8 months of import cover. These reserves provide the country with adequate buffer against shocks in the foreign exchange market. The Kenya shilling has held steady against major currencies, with an annual average exchange rate of Kshs101 to the US Dollar. This was supported by a narrowing of the gap between our export of goods and services from 5.5 per cent of Gross Domestic Product (GDP) in February of 2018 to 4.7 per cent in February of 2019. Agricultural exports, particularly horticulture, receipts from tourism and diaspora remittances largely explain the improvement in our current account position."
}