Chairman, of Budget and Appropriations Committee, National Assembly Ndindi Nyoro has maintained that the Kenyan economy is on a steady growth.
Nyoro said the economy grew by more than 5.5 per cent last year and it is expected to accelerate to more than 5.7 per cent this year.
The Kiharu MP said the impressive records put Kenya at position 28 as among the fastest-growing economies in the world.
"The Kenya economy is doing well compared to other economies which is a good signal," he said.
Nyoro said the country has seen stability in the exchange market rate with the Kenya shilling growing stronger against the dollar.
He said the shilling will continue to gain strength and surpass whatever obstacles that are on its way.
Nyoro said the current fluctuations are mostly driven by market sentiments but generally the fundamentals are good and the shilling strength remains impressive.
He attributed the shilling's strength and economic growth to the Kenya Kwanza government's sound monetary policies.
Nyoro was speaking at the Diamond Leisure Lodge Hotel in Kwale County during GenAfrica's Seventh Annual Investment Conference on Friday.
The event brought together more than 200 delegates with this year's theme dubbed Investment opportunities in the post-downturn landscape: Moving forward, what beckons?
Nyoro noted that there has been a lot of profit made around lending money to the government and also in fixed-income instruments.
He said the profits have continued to grow since financial institutions and individuals are guaranteed their returns by the government.
He, however, said the economy is changing hence the need to diversify other packages.
"I am anticipating a shift from the fixed income instruments to other areas in the capital and stock markets and the rest," he said.
He added that Kenya and the rest of the world have had an opportunity in the last few years to reap big in the fixed-income arena.
Nyoro said it is unfortunate that investments are never a graph that grows upwards adding that at some point people have to make a paradigm shift in their decisions for growth.
The Kiharu Member of Parliament stressed that it requires a lot of creativity, innovations and proper planning for the economy to effectively stabilise.
He defended the government's decision on housing levy and affordable housing projects.
Nyoro said the Kenya Kwanza administration considered the long-term benefits of development and employment opportunities.
