The highlights …
In truth, ours is a chronically weak economy that has often succeeded in posting high growth, but still struggles to meet most of the demands of the ordinary citizen.
We have had quantitative growth, but not qualitative development. Fifty years later, our economy’s biggest weakness is its inability to provide decent jobs for its citizens. More than ever before, many Kenyans are having to put up with low-paying, low quality jobs.
Every so often, our economists reel out statistics showing how hundreds of thousands of jobs are created in the informal sector. But do we even pause to ask about the quality of jobs in the informal sector — working conditions, working hours, or the return on effort?
The truth is that work in the informal sector is characterised by maximum physical exertion, inhuman working hours and meagre returns on effort.
We have done very well in terms of jerking up infrastructure spending. We have a fairly strong financial sector, but the growth of public sector debt as a percentage of GDP is just too high.
Policy must seek to eliminate this sector so that we can move citizens away from the beastly working conditions to sectors that can offer decent and durable jobs.