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Investment analysts seek projects freeze over virus

A road construction project
A road construction project. FILE PHOTO | NMG 

Investment and financial analysts want public projects suspended with funds realised put in improving healthcare to enhance Kenya’s preparedness against the Covid-19 pandemic.

The Institute of Certified Investment and Financial Analysts (Icifa) said all development expenditure should be scrutinised to defer what can wait.

“Funds earlier set aside for the projects should be spent on increasing diagnostic capacity and setting up more ICU beds in the counties,” it said during the release of findings of a survey.

Respondents called for massive investment in training medical personnel on pandemic response as well as invest in research and innovation.

The Institute said Kenya must provide crisis management skills to enable the country deal with pandemics and disasters.

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“The government must enforce strong austerity measures through the Treasury to ensure the country’s budget is balanced and surplus created,” it said.

“The government could consider engaging fiscal consolidation to mitigate the risks of the pandemic or else risk a sharp rise in the cost of borrowing”.

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