Kenyans optimistic of economic growth

The managing director Ipsos-Synovate Kenya, Maggie Ireri. Photo/FILE

Most Kenyans are forecasting the New Year to bring with it better economic conditions along with a fairer political climate and brighter employment opportunities, a new survey has shown.

The study conducted by Ipsos Synovate indicated that 65 per cent of Kenyans have “high expectations” regarding the country’s economy in 2013 and expect it to improve.

Conversely, 17 per cent of the respondents said they think it will take a turn for the worse.

Nine per cent said they could not tell Kenya’s economic future and another nine per cent said they are not expecting any changes from this year’s economic status.

“Current economic indicators are better than they were at the same time last year. The shilling is trading at an average of Sh85 to the dollar compared to Sh107 at the end of last year.

Inflation dipped to 3.25 per cent in November 2012 compared to 19.72 per cent in November last year,” Ipsos Synovate Managing Director Margaret Ireri said in a statement sent to the media.

The findings also projected lower electricity bill in January, attributing it to the heavy rainfall currently being experienced around the country which has an effect on the production of hydroelectric power.

“With improved positive indicators, it is no wonder that Kenyans are optimistic about 2013,” she said.

The survey, in which 1,625 respondents were interviewed, found that with the countdown to the March 4 General Election, 53 per cent of Kenyans expect a better political environment – a change from last year’s opinions.

“When the same study was conducted in November last year, 56 per cent of Kenyans expected the political climate to worsen in 2012 as the battle to succeed President Kibaki heated up. Only 19 per cent expected it to be better than it was then,” Ms Ireri said.

She explained that the change could have been driven by the short run up to the elections to be held in the next three months.

Further, the same study found that 61 per cent of Kenyans expect the employment situation in the country to improve largely because of political aspirants promises to reduce the rate of unemployment.
But 12 per cent believe that things will get worse.

Generally, the finding showed that men were more likely to see the 2013 glass as half-full while women see it as half-empty.

On economic conditions, 64 per cent of the males polled expect 2013 to be better compared to 53 per cent of the females.

65 per cent of the males expect employment opportunities to open up against 58 per cent expectation among females.

Also, 59 per cent of men foresee cool political temperatures in 2013 compared to 48 per cent of females.

“In most surveys we have conducted globally, men are found to be more knowledgeable about current affairs than women on the average and in this case have more information about the economy, politics and employment to make them more upbeat about 2013,” Ms Ireri explained.