CHALLENGES TO A GREEN ECONOMY IN KENYAby | 21-08-2016 23:30 |
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The green economy strategy recognises that macroeconomic constraints may hamper transition to green economy. The macroeconomic framework underpinning the Green Economy Strategy requires that Kenya sustains high growth consistent with Vision 2030 and firmly embeds the principles of sustainable development in the overall growth strategy. The framework builds on the achievements realised during the implementation of the First and Second Medium Term Plans for the Vision 2030. Major achievements include restoring growth, maintaining macroeconomic stability, re-aligning public expenditure towards energy and infrastructure development and provision of social economic services, structural reforms as part of the implementation of the Constitution of Kenya 2010 and financial sector deepening. The policy framework for green economy is designed to support a globally competitive low carbon development path through promoting economic resilience and resource efficiency, sustainable management of natural resources, development of sustainable infrastructure, and providing support for social inclusion. The policy mix is aimed at aligning national policies towards supporting and accelerating the process of greening the economy by addressing vulnerabilities to shocks. Significant achievements have been made in restoring macroeconomic stability, although recent macroeconomic performance indicators reveal that Kenya?s economy remains vulnerable to external shocks emanating from adverse weather conditions, international oil and food prices, slowdown in global growth, and terrorism and insecurity. Other key national challenges include infrastructure deficits, unemployment and poverty. |
