Browsing: Kenya’s economy in 2023

• According to their announcements, Germany would take professionals, skilled worked and semi-skilled Kenyans.
• German has promised to fund, extend and modernize the country’s TVET institutions and centres of excellence from levels three to seven.
• They will create a framework for linking Kenyan Technical and Vocational Training (TVET) colleges with chosen TVET colleges in Germany.

Kenya and Germany struck a deal to increase the rate of International Jobs in Africa. According to reports, Germany agreed to allow Kenyans to fill 250,00 unfilled positions to help both countries with their impending unemployment rate.

Due to this partnership, Kenya cannot deal with its corrosive low employment rate, significantly dragging its economy down.

Kenya’s History with low job rates

It is common to hear the wails of Kenyan Youths when t comes to their country’s employment rate. These days most individuals turn to entrepreneurship to sustain their livelihood while “tarmacking” the town streets to …

• A report by the Institute of Public Finance has projected that Kenya’s economy will remain subdued in 2023, growing at a projected 5%
• The growth will be at the back of a persistent rise in commodity prices, global events and a high risk of debt distress
• Support for the agricultural sector and easing of fiscal pressure through budgetary consolidation are among the areas that are likely to shape economic performance during the current budget cycle

A new report has projected that Kenya’s economy will remain subdued in 2023, growing at a projected 5%, owing to a persistent rise in commodity prices, global events and a high risk of debt distress.

According to the Macro-Fiscal Analytic Snapshot 2022/2023, there is an opportunity for Kenya’s economy to register a remarkable upward trend if the government focuses more on fiscal consolidation efforts that include cutting back on non-priority expenditures to increase investment and …