“This economic growth isn’t broad-based and, therefore, it is not creating enough jobs,” Mr Ichung’wa said. In 2019, Kenya’s diaspora remittances stood at Sh285.5 billion, up by Sh13.6 billion in 2018, the latest data from the World Bank shows. This poses a risk because of the volatile nature of annual remittance growth,” Mr Ichung’wa said. The saving grace for the economy was the low fuel prices, which negated any further escalations in food and other related costs. The Kenya Revenue Authority (KRA) has in the last four financial years failed to meet its targets as the economy struggles.

Source: Daily Nation March 09, 2020 07:52 UTC