Kenyans are poorer under Ruto

Kenyans are poorer under Ruto

Kenyans are poorer under Ruto

According to TIFA Research, Kenyans are poorer and in worse economic shape than they were a year ago, when former President Uhuru Kenyatta handed over office to current Head of State William Ruto. According to a research released on Tuesday, September 12, up to 25 million Kenyans are living in abject poverty as a result of economic problems.

Unemployment and a high cost of living as a result of the country’s high cost of goods and services are contributing reasons to the country’s challenging economic predicament.”The majority of Kenyan households, up to 53%, believe their living standards are worse than a year ago,” according to the research.

Respondents, including allies of President William Ruto, generally agreed that living  had become miserable for many families. “However, while a plurality of Government supporters share this negative view (41%),  far more Opposition supporters share it (70%), as do those who claim no political  alignment (56%),” the statement stated in part.

According to TIFA Research, the median family income in Kenya has decreased dramatically as many people struggle under the weight of surging inflation and the drought that swept the country in early 2023.It was noticed that the poorest households have been disproportionately affected by the economic slump, resulting in a widening of the country’s wealth disparity.”The vast majority of income earners (53%) earn less than Ksh20,000 per month.” “However, a significant proportion (25%) were either unsure of their recent monthly income or declined to answer the question,” the report said in sections.

According to TIFA Research, the median income for the poorest households, which historically supported a large number of people, has dropped significantly in the last year.

This means that these households are now having to work even harder to meet their basic requirements, which is a concerning indication for the Kenyan economy.”Among those who report currently working and earning any income (and who specify such earnings), the majority (36%) are in self-employment,” according to the TIFA research. It shows that the country is still battling to recover from the effects of the COVID-19 pandemic and the drought, and that the government must move quickly to solve the economic issues that Kenyan households are facing.”When compared to their personal/household economic status a year earlier. Only one-fifth of Kenyans, or 21% of Kenyans, believe it has improved,” the report stated in sections.

The research emphasizes the necessity for the government to expand social safety net initiatives to help the poor and vulnerable.One of the respondents’ main concerns is the issue of high taxation, as well as the necessity to lower taxes and levies on necessary goods and services, as previously implemented by former President Uhuru’s government.According to the Kenya National Bureau of Statistics, the average monthly income for Kenyan households is Ksh20,123.However, incomes vary greatly, with the poorest households earning much less and the richest households earning substantially more.

The second segment, which accounts for 20% of the total population, earns between Ksh5,001 and Ksh10,000 per month.In Kenya, the middle class is defined as households spending between Ksh23,670 and Ksh199,999 per month. This means that the average Kenyan middle-class household earns Ksh166,249 per year.Kenyan household income varies according to a number of characteristics, including location, education, occupation, and gender.For example, urban households tend to have higher incomes than rural households. Households headed by a college graduate have higher incomes than households headed by a person with no formal education.

Kenyan household income is also influenced by the state of the economy. Incomes tend to rise during economic booms, whereas incomes tend to fall during economic downturns.Kenyan households’ income is a key aspect in influencing their quality of life. Higher-income households can afford better housing, food, education, and healthcare. They are also less likely to be poor.