Economic Recovery Strategy for Wealth and Employment Creation 2003-2007

Abstract

The Kenyan economy has performed poorly over the last two decades leading to deterioration in the quality of life of Kenyans. Among the reasons for this poor performance include poor implementation of economic policies and mismanagement, and weak institutions of governance. After making initial gains soon after independence, the economy started a downward trend during the late 1980s and this deteriorated by late 1990s. Reforms of the 1980s and 1990s that sought to deal with structural problems appear to only have had limited success in stimulating economic growth. This is particularly so because little progress was made in improving economic governance. Resulting from that poor economic performance is increased poverty, unemployment, high domestic and foreign debt, crime, deterioration in health status, declining school enrolments and generally a marked decline in the quality of life. It is against this background that the NARC Government was elected in December 2002 with a primary mandate of reversing the many years of poor economic performance and weak governance.