You must tighten your belt in anticipation of increased cost of living due to the global coronavirus pandemic. Yatani also expressed fears that the virus will see the shilling shed its value against major currencies, an effect that will push up import cost and eventually the cost of living. The Asian country, which is also the epicentre of the coronavirus outbreak, accounts for 21 per cent of the country's imports. According to the KAM report presented to Treasury, 82.69 per cent of manufacturers source their raw materials from China. Even so, 63.9 per cent have turned to outsourcing from other markets to stay afloat even as the coronavirus menace spreads.

Source: The Star March 13, 2020 01:52 UTC