National Treasury and Economic Planning Cabinet Secretary Prof Njuguna Ndung'u with Budget and Appropriations Committee Chairperson Ndindi Nyoro on November 10, 2022. PHOTO | DIANA NGILA | NMG
Private sector players are wary of the austerity measures being implemented by the new administration, fearing that the spending cuts will hurt their economic prospects in the next 12 months.
Through the Market Perceptions Survey, done by the Central Bank of Kenya (CBK) ahead of every Monetary Policy Committee (MPC) meeting to obtain perceptions of banks and non-bank private sector firms on selected economic indicators, the respondents noted that the expenditure cuts being undertaken by the government will disrupt the prospects in the economy.
