73 per cent of Kenyans unhappy with economic performance

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The managing director Ipsos-Synovate Kenya, Maggie Ireri during the release of an opinion poll on May 1, 2012. Photo/JENNIFER MUIRURI  

By NATION REPORTER
Posted  Monday, May 28  2012 at  11:21

Majority of Kenyans are pessimistic on the prospects of a better economy according to the latest survey conducted by Ipsos-Synovate.

The survey found that 73 per cent of respondents said Kenya's economy was in a bad situation despite a decline in inflation.

Also, almost half of Kenyans also noted that they knew someone who has lost their job in the last six months as a result of the poor economic situation.

At least 42 per cent noted that the economic performance was 'very bad' whereas 31 per cent said the situation was 'somewhat bad.'

The most pessimistic population comes from western Kenya with 48 per cent stating that the economic situation was very bad.

However, in North Eastern, half of the people interviewed acknowledged that the economy was doing well and only 24 per cent felt otherwise.

Nevertheless, women were optimistic with 52 per cent satisfied with the economic performance.

Men were almost evenly split with 37 per cent saying the economy was doing well while 36 per cent noted that it was below par.

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Gloomy future

Also, 58 per cent of respondents say the country is headed in the wrong direction with its economic policies.

In urban areas, 61 per cent feel Kenya is headed in the wrong direction while only 34 per cent approve of measures taken to improve the country's status.

Again, residents in western Kenya topped the list of pessimists with 74 per cent stating that the country was heading in the wrong direction and was closely followed by Coast residents with 70 per cent sharing the sentiments.

The most optimistic residents in Kenya were from North Eastern and Eastern regions with 64 percent and 47 per cent of respondents stating that the country was headed in the right direction.

“The government is going to have to do a lot more to ensure that the benefits of reduced inflation and a stable currency are trickling down to the grassroots,” says Maggie Ireri, MD Ipsos-Synovate Kenya.

Ipsos-Synovate Kenya interviewed 1,024 respondents.

Kenyans pessimistic about the economy: Poll Written By:Claire Wanja,    Posted: Mon, May 28, 2012

Overall, women are more pessimistic with almost half (48%) describing it as very bad Kenyans are pessimistic about the economy despite official decline in inflation. A new survey by Ipsos-Synovate found that two thirds are unhappy with the current economic situation with a significant number of Kenyans which is 42per cent and 31per cent describing it as very bad and somewhat bad. The most pessimistic were found to be in Western Province where almost half (48%) feel the economic situation is very bad. The most optimistic are in North Eastern where half of respondents feel the economic situation is somewhat good and only 24% feel it is very bad. Also majority of Kenyans also feel that the country is headed in the wrong direction (58%). This is higher in urban areas (61%) compared to 34%who believe things are heading in the right direction. Western and Coast provinces are the most pessimistic at 74% and 70% respectively. The most optimistic Kenyans are in North Eastern and Eastern provinces where 64% and 47% respectively feel the country is headed in the right direction. These findings come soon after the Kenya National Bureau of Statistics (KNBS) released data indicating that with the onset of the rains, inflation dropped to 13.06% in April, down from 15.6% in March, the largest margin of decline in two years. The Central Bank of Kenya has also taken credit for having strengthened the exchange rate, and slowed down inflation. Despite this prices of goods and services have not come down. "A year ago a half litre packet of milk was retailing at Sh23, today the same packet costs double, between Sh46-48 in most places. This is a classic illustration of the increase in the cost of living yet incomes have remained static," says Maggie Ireri, Managing Director, Ipsos-Synovate (Kenya). Asked to rate the strength of their local economy, more than three quarters (78%) of Kenyans rated their local economy as weak. Only 7% of the total population believe their local economy is very strong. This rises to 14% in North Eastern, Nyanza (12%) and Nairobi (10%) and reduces to 5% in Central and Coast provinces. Ireri also noted that the government is going to have to do a lot more to ensure that the benefits of reduced inflation and a stable currency are trickling down to the grassroots. The target population for this survey was Kenyan adults aged 18 and above in all the eight provinces. The sample size was 1,024 respondents. The survey was conducted between 23rd and 26th April 2012.