Business

Kenya’s Economy to Stabilize at 6% in 2022

Kenya’s economy is expected to stabilize at 6 per cent in 2022 boosted by a strong performance in the second and third quarters of the 2021 fiscal year and remittances from the Diaspora.

Interior Cabinet Secretary Fred Matiang’i who chairs the National Development Implementation Coordination and Communication Committee (NDICC) said that key macroeconomic indicators point to a quick rebound of the economy from the COVID-19 impact with remarkable improvements witnessed in the services and industrial sector.

He further added that the Russian and Ukraine conflict will affect Kenya’s economic growth, noting that it is disrupting the export-import supply chain that could especially affect fuel prices.

The number of people in need of food and water relief in 23 Arid and Semi-Arid Lands (ASAL) counties has increased to 3.1 million due to below-normal short rains last year, which will affect economic growth to some extent.

As part of efforts to open up the country, the government targets to vaccinate 26 million up from the current 27.1 million people aged 18 years and above to boost COVID-19 immunity and allow for more economic activities from increased interactions.

In order to boost the economy, Fred Maitang’i said that the government will continue to roll out labour-intensive projects such as Kazi Mtaani (community work), the construction of school classrooms and other infrastructural developments around the development blueprint to provide the youth with job opportunities and create incomes for families


Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
WP Twitter Auto Publish Powered By : XYZScripts.com