The chairperson of the President’s Council of Economic Advisors (CEA) David Ndii has warned that the Kenyan economy is going to shrink.
In a statement via X on Tuesday, December 19, Ndii accused former President Uhuru Kenyatta of creating his legacy through debts at the expense of producers.
Ndii pointed out that Kenyans will have to focus on production amid the struggling economy.
“This economy is going to shrink. The other day someone who deals in high-end cars asked me when I think the economy would turn around. I gave him my honest opinion, told him his line of business was unlikely to recover and he might want to look into a production-oriented sector,” he stated.
The economist warned businesses depending on the government to prepare for disruptions saying tenderprenuers will have to reinvent or close down.
“If you are in a government-facing or dependent business, prepare for disruption. The facilities gaming the NHIF will have to shape up or ship out. Most high-end entertainment joints where tenderpreneurs blow 100k a night will have to reinvent or close,” Ndii stated.
According to Ndii, the Kenyan economy is struggling because of debts and the current administration is weaning the economy from debt consumption addiction to production.
“But you said you have a plan? Yes, we do. It is about weaning the economy from debt consumption addiction to production. We are implementing it. The withdrawal symptoms mean its working,” Ndii added.
