TWO MILLION KENYANS FELL BELOW POVERTY LINE SAYS WORLD BANK
Written by miebaka ikiriko on November 26, 2020
World Bank says two million kenyans fell below the poverty line between March and June this year.
According to World Bank, the rate of unemployment in East Africa’s largest economy increased from five percent to twenty one percent within the period.
This increased the number of people living below one point four two dollar per day by four percent to two million factory workers and those working in tourism and agriculture were especially affected.
The report said Kenya’s tax revenues have reduced but their debt servicing requirements have increased.
Kenya’s debt, it went on stands at sixty five point six percent of the gross domestic product and the national treasury is in the process of seeking another two point three billion naira from the international Monetary fund to help fund the respond to the coronarus pandemic.