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Central Bank predicts tough year in 2020

If you thought the problems bedevelling Kenya were left in 2019, think again.

The year 2020 might not be smooth, the Central Bank of Kenya (CBK) governor Patrick Njoroge, who made the prediction in a series of tweets on Tuesday.

“The bad news is 2020 may prove as challenging. But we believe we are ready and will prove up to the task, ultimately improving the lives of those around us especially the most needy,” Governor Njoroge posted on his official Twitter account.

Governor Njoroge confessed that 2019 was a brutal year and CBK achieved a lot in the banking sector despite the challenges.

TWISTS AND TURNS

He appreciated members of the public who supported CBK throughout what he termed as ‘twists and turns in 2019.’

This comes amidst confession by Kenyans that indeed 2019 was a bad year.

The survey by research firm Trends and Insights for Africa (Tifa) said only 17 percent described it as a good year.

Just yesterday, figures showed that inflation rose for a fourth consecutive month to close the year at 5.82 percent in December.

This is up from 5.56 percent in November, 4.95percent in October and 3.83percent in September, which was the lowest rate in 2019.

The Kenya National Bureau of Statistics (KNBS) attributed the increase to rise in prices of some food and non-alcoholic drinks. Inflation measures the cost of living.