It is said that the GDP growth projected to average 5.2 per cent over the 2022-2024 window will help reverse the rising poverty rates caused by the Covid-19 pandemic..
World Bank projects that Kenya’s poverty will fall to 33.4 per cent in 2022, below the pre-crisis level of 34.4 per cent in 2019.
Due to Covid-19 pandemic that caused the poverty rates to rise, it is expected to help reverse the growth in real per capita income.
“Kenya’s economy was sternly disrupted by the Covid-19 but it has staged a strong recovery, and the poverty level is projected to fall below its pre-pandemic level in 2022,” said World Bank.
In 2024 Kenyan’s poverty rate is anticipated to dip to 31.6 per cent.
This baseline projection assumed that the normal rains support good agriculture harvest to drive food processing, sustain export growth, help anchor in inflation expectations and support household’s consumption.