Kenya 'between a rock and hard place' amid economic headwinds

Treasury Cabinet Secretary Njuguna Ndung'u. Treasury CS says Ukraine conflict has slowed the economy, accelerated inflation. [Wilberforce Okwiri, Standard]

The ongoing economic crisis has put the government "between a rock and a hard place," but the administration is keen to deliver on its promises, President William Ruto's top money man has said.

Treasury Cabinet Secretary Njuguna Ndung'u said on Thursday that Russia's invasion of Ukraine had affected regional economies by slowing growth and jacking up inflation, in turn increasing the cost of living and shrinking the fiscal space.