Kenya: Future debt disaster

The Kenya Social Watch report registers “heavy and unprecedented investment in mega-infrastructure projects.” Instead of spurring equitable economic growth these initiatives are placing on the national economy an unbearable debt burden of some US$ 50 billion.

The report states that “the growth-leading sectors have not only been broadly based but also have performed poorly, particularly in respect to poverty-reduction and equity-inducing policy dispensations and accompanying strategic instruments. Decreased activity in the agricultural and manufacturing sectors have induced a jobless growth that has had the effect of a flood in the wake of which not all the boats could be lifted. Instead it has rendered Kenya one of the most unequal societies in the world.”

Source: Kenya National Report 2017.