Kenya Kwanza takes over an economy that is battered by internal and external forces. The country was still struggling to recover from Covid19 slowdown then war broke out in Europe. Locally, the public debt is at historic high. A huge chunk of the tax collections go into servicing debt. Inflation is artificially suppressed. Were it not for government subsidies, fuel would be over KShs 200 per litre and unga over KShs 250 per 2 kg packet.
The big question is whether the bottom up "Hustlenomics" approach, which is tellingly silent on the management of the national level economy (macro-economics) will save Kenya.
Contemporary developmental economists like Amartya Sen advocate for high public investment in democratic and social institutions. Such is not possible without fiscal discipline and eradication of corruption.
The next 10 years will be interesting.
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