rwitre wrote:Na hawa ni Gloom and DoomQuote:University of Nairobi business professor Bitange Ndemo noted that it is increasingly getting clearer that there will be a global recession next year, which would affect Kenya’s economy.
“The slowdown in China, the shutdown in the US, the weakening in Germany ... the signs are there. And this will affect us when people go for priority items and give our produce like flowers a wide berth.”
Debt repayments due, new taxes, reduced purchasing power, growing NPLs....2019 is not looking so good.
But the war on corruption is gaining impetus..so that's a good sign.
And according to the
World Bank's biannual report, gross domestic product growth in Kenya will increase to 5.8 per cent in 2019and could rise to six per cent by 2020.
So we go into 2019 cautiously optimistic.
Those 5.8/5.9% economic growth i don't trust them.
The kenyan economy is growing at best 2.8-2.9%
Private sector and household credit growth is at less than 3%
Government is on a cost cutting measure
Non-performing loans in the banking sector increasing
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle