Pull out all the stops to revive ailing economy

**Alice Wambui a vegetable vendor at the Nyeri Wakulima Market in Nyeri reacts after she qualified for the famlous 'hustler fund' loan.** [Phares Mutembei, Standard]

The just-published Economic Survey 2023 shows an economy that is wobbly and in dire need of intervention to get it up and on a firm growth path. The survey shows that nearly all sector experienced a slower growth rate last year compared to 2021. Worse, was the performance by agriculture - the mainstay for Kenya's economy, which contracted for the second year running.

While the argument advanced was that the economy grew at higher rates in 2021 as it was coming from a low base in 2020 when everything had stalled, the numbers paint a picture of an economy that is in need of some boost.

This could be in form of government offering a friendlier environment for businesses, the State slowing down on new tax measures and where possible a stimulus package of sorts. These, and a host of other measures, could give businesses impetus to invest more, create more employment and in turn, increase tax revenues.

The numbers also exposed dangers of the country's continued reliance on rain-fed agriculture. The sector, which account for a fifth of the Gross Domestic Product, posted a negative 1.9 (-1.9) per cent grown. This was on account of the drought that Kenya has been experiencing over the last three years. The impact dragged growth across other sectors, including manufacturing. As the National Treasury noted, the negative growth that agriculture impacted negatively on other industries, particularly, agro-processing and wholesale and retail trade. The dependence on rains for agriculture meant the worsening of the food security situation in the country, with Kenyans having had to pay more to put food on the table.

It is perhaps the worst performance by the sector in the recent years but the risks of depending on rains have always been present.

These are no ordinary times. The new findings are a valuable learning point. We call on the State to spare no effort in breathing new life into the economy. A thriving economy would ultimately translate into better lives for Kenyans, many of who are reeling from the high cost of living.