Barely two years into President William Ruto’s tenure, Kenya Kwanza's much-hyped bottom-up economic model is not working, according to a report from the Parliamentary Budget Office (PBO). The report, which evaluates the economic policy for the 2024/2025 financial year, points to multiple obstacles that have impeded the bottom-up model’s effectiveness. The report highlights that substantial financial resources, often accessed through loans, remain underutilised, with many planned initiatives yet to commence. According to the report, over 200 development projects are affected. Programmes like the National Agricultural Rural and Inclusive Growth Project and the Agricultural Sector Development Support Programme have experienced low fund absorption.

Source: Standard Digital November 06, 2024 01:47 UTC