PESA Editorial on Kenya: 1H2023/24

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• Create Date December 8, 2023
• Last Updated December 16, 2023

Kenya’s economy has continued recovering from the global shocks caused by the COVID-19 pandemic in 2020 and the Russia-Ukraine conflict in 2022. The Central Bank of Kenya (CBK) has an explicit inflation target band of 2.5-7.5% around the medium-term targeted rate of 5%. The Government of Kenya has followed procyclical fiscal policy until 2023 by reducing government spending during economic downturn and increasing public spending during economic recovery. Kenya’s external sector was not severely affected by the COVID-19 pandemic in 2020 but has not benefited from the higher commodity prices in the aftermath of the Russia-Ukraine conflict in 2022. Kenya held its most recent national elections in August 2022. The Government of Kenya faces several challenges, including poverty, high levels of income inequality, and corruption. Read more accurate and balanced analysis of the political economy in Kenya here: https://politicaleconomy.org.za/2023/12/pesa-editorial-on-kenya-1h2023-24/.