Fiscal analytic snapshot: Kenya

Kenya's economic damage caused by COVID-19 will result in a downturn by 2023 that leaves the gross domestic product (GDP) to about 9 percent below the pre-crisis forecast, says a joint report released by economic think tanks. According to the Macro Fiscal Analytic Snapshot (MFAS) report by the Institute of Public Finance Kenya (IPFK) and London-based Oxford Policy Management (OPM), prior to the COVID-19 pandemic, Kenya had been experiencing stable and moderately strong growth since 2008, averaging 5.6 percent per year. The annual report seeks to facilitate an informed public discourse on Kenya's economy and allocation as well as the use of public finances as an effective way of policymaking.