Mr Nyoro, tell it to the birds, the economy is bad

Kiharu MP Ndindi Nyoro. [Elvis Ogina, Standard]

As the Budgets and Appropriations Committee chairman, Kiharu MP Ndindi Nyoro sits in a privileged position to have the numbers of our economy in his fingertips.

However, for him to claim this government deserves a clap because some ranking places Kenya as the 29th fastest-growing economy, is an insult to Kenyans afflicted by the same economy.

An economy does not grow or fall on paper but in the pockets of each and every Kenyan. Let Nyoro face the 70-year-old couple that has shut down a school that has survived for generations and they will tell him why they cannot believe him.

Let Nyoro face Kenyans who despite having a payslip cannot afford two meals a day for themselves or their children. Whatever the ranking, Kenyans are having to deal with nearly double the initial cost of energy; be it fuel or electricity. Both went up through deliberate policy actions. The new electricity costs, for example, were taken up by 63 per cent by the Energy and Petroleum Regulatory Authority in April.

Since then, the trend has been upward, the rates are readjusted to factor fuel costs etc. The origins of higher fuel prices are well known, beginning with reinstatement of the 16 per cent VAT and some government-to-government deal that has so far changed nothing if not made things worse. Those are not actions that build an economy that can be felt by the people. The kinds of statistics Nyoro is speaking about are akin to a father who borrows heavily to buy a Prado while his children are hungry.

Yes, the government may have some money because of the above measures, among others. But where does that leave Kenyans? Kenyan families are in a deplorable state. Let Nyoro walk around any shopping centre and chat with the traders. He will be told how things are rotting on the shelves as potential buyers cut their daily expenditures. Firms have resulted in some extreme cost cutting measures that include salary cuts and sackings.

If Kenya wants to take pride in being ranked among the fastest growing economies, let it check IMF projections for the fastest growing economies in 2024. First, Kenya does not feature anywhere. However, interestingly, in the list are countries that we would not want to be compared against. Among them are Burundi and Niger, also ranked as the poorest.

To credit bodies like IMF, a stable economy may only mean a country is collecting enough revenue to pay off its loans. That means a different situation for people. When the economy grows to favour pockets of Kenyans, there will be no need for a state choir to sing the same. There will be no need to lift supermarket offers and pass them as government achievements.

Signs of a growing economy include wage growth, reduction in unemployment, increase in purchasing power, increase in production and an ability to afford basic needs.

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