Policy Monitor, Issue 15 No. 2, October-December 2022 on Mitigating Climate Change for Inclusive and Sustainable Development: Perspectives on Trade Governance and Education Systems

Abstract

This article provides an overview of Kenya's recent economic developments in four key areas: economic growth, monetary policy and financial sector developments, fiscal performance, and developments in the external sector. The article highlights that Kenya's growth trajectory in 2022 was shaped by the worldwide economic slowdown, tightening financial conditions, global inflation, and the drought situation in the Horn of Africa. The article also discusses the new government's development agenda, the Bottom-up Economic Transformation Agenda (BETA), which focuses on four key pillars. The article further examines Kenya's economic growth, which moderated in the first nine months of 2022, due to several shocks domestically and abroad, including the persistent drought condition and effects of the Russia-Ukraine war.