Bleak economic prospect a rude awakening for Jubilee
SEE ALSO :Bikes create jobs and boost growthYet now, a new report, done by Central Bank of Kenya, Kenya National Bureau of Statistics (KNBS) and Financial Sector Deepening (FSD), confirmed wananchi’s fears that things are actually getting out of hand. The 2019 FinAccess Household Survey found that a majority of Kenyans are worse off this year financially than they were three years ago. The report highlights the hardscrabble life many Kenyans lead. Emergencies such as diseases and death leaves families with little money to invest or save. Yet countless times, the Jubilee administration has insisted that the economy is doing well. President Kenyatta has cited increased electricity connectivity, the Sh300 billion SGR, power generation projects and major road networks as spurring growth. Alas, that seems to be only that.
SEE ALSO :Report: 57 campuses closedThe truth is; for the 27 million Kenyans polled, their financial heath in the last three year has deteriorated. The fraction of Kenyans who are financially healthy - those able to set aside some cash for a rainy day and remain with little after spending on essentials - declined from 39.4 per cent in 2016 to 21.7 per cent this year. That is staggering. The survey indicates that six out of every 10 Kenyans were unable to meet their daily expenses in each income cycle. Nothing to be proud of. Is the government talking a lot and doing less? If so, it needs to stop the show. Kenyans want better jobs that can afford them not food on the table but also an improved standard of living.