Shaky economic indicators drag policy implementation – Report
The country’s mixed economic indicators such as high inflation, high unemployment, and low economic growth are making it difficult for policymakers to execute effective policies that will arrest the structural and developing challenges.
This is according to a recent report released by Agribank. The report states that consumer confidence is eroded by high inflation rates and rising interest rates which stifle business and the already indebted consumer.
“International dynamics play a major role in the mixed economic indicators, making it burdensome for policymakers to execute effective policies that will arrest the structural and developing challenges,” the report stated.
According to the report, pandemic-related retrenchments and slow global trade have further worsened the number of unemployed individuals in the country.
“There are various programmes for reviving the labour market such as the agro-based value chain initiatives for the youth. However, uncoordinated policy frameworks and the lack of coordination between the government and private sector continue to be a challenge in combatting the elevated unemployment rate,” the report noted.