27
Mar
Martin Endjala The decline of the country’s Gross Domestic Product (GDP) by 4.2 percent in 2023 has been described as a huge margin compared to 5.3 percent in the previous years. This is according to Independent Bank Researcher and Economist, Josef Sheehama, who said that despite the economic recovery in 2022, the socio-economic situation did not improve significantly. Employment is estimated to remain below pre-pandemic levels because labour-intensive manufacturing subsectors have added jobs relatively slowly. Spurred by higher fuel prices, inflation increased to a disproportionately affecting the most vulnerable. “Therefore, there is no excitement for the time being unless the…