Household spending to fall by half over Covid-19 risk

Spending by Kenyan households and businesses is set to fall by 50 per cent this year due to disruption caused by coronavirus, a new report says.

The report by global firm McKinsey & Company says the reduced spending by consumers will be the biggest loss to Kenya’s Gross Domestic Product (GDP) that might shrink to 1.9 per cent from 5.2 per cent.