Kenyan economy rebounded and registered positive growth in Uhuru’s last days in office.
The world bank has commended the former president, Uhuru Kenyatta for keeping the economy intact post corona amd during the Russia- Ukraine war.
The statement read,”The Russian invasion of Ukraine and subsequent sanctions disrupted world markets, most notably through sharply raising global commodity prices but Kenyan economy rebounded and continued to register a positive growth to the mid of 2022.”
“Partly reflecting a base effect, real GDP increased by 7.5 percent in 2021 and 6.0 percent y/y in first half of 2022, driven by broad-based increases in services and industry,” the statement added.
They further stated that the subsidy programs ( unga and fuel) were essential for the rising economic trends.
They stated,”The rebound in first half of 2022 was driven by resilient consumption growth, underpinned by buoyant international remittances, increase in minimum monthly wage, and large fiscal subsidies to cushion from the regional drought and global commodities market shocks.”
More to follow…