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Kenyans divided on state of the economy, but youth most hopeful – Survey

Despite concerns about current national issues, a majority of Kenyans, say their personal finances are very or somewhat good

Despite concerns about current national issues, a majority of Kenyans, say their personal finances are very or somewhat good

NAIROBI, Kenya, Nov 17- Fifty-six percent of Kenyans are dissatisfied with the status of the economy in the country, according to a recent study by US-based Pew Research Center.

The study, conducted in Kenya, Nigeria and South Africa, notes that the citizens’ perception about the latter two has drastically changed in the last 12 months, while remaining fairly stable in Kenya. three economies have

“Many Kenyans say the national economy is bad at 53 per cent including roughly a quarter who think it is very bad. Less than half (46 percent) say the economy is doing well,” the report says.

This is in comparison to seven-in-ten South Africans and Nigerians who now say their economies are in bad shape.

Despite concerns about corruption and unemployment, a majority of Kenyans, 56 per cent say their personal finances are very or somewhat good. This is up slightly from 2013, when half were happy with their personal economic situation.

“More than half, 56 per cent,  say the national economy will improve in the next 12 months. Kenyans are even more bullish about their personal economic circumstances, with roughly two-thirds, 69 per cent, believing their own finances will improve over the coming year.”

At least 78 percent of Kenyans would recommend young people, who want a good life, stay in Kenya, but

Overall, young Kenyans (18 to 34), are much more positive about their country’s financial outlook than older Kenyans.

Over half of the younger generation say the economy is doing well, compared with just 28 per cent of people ages 50 and older.

And young people are 14 points more likely than their elders to say the economy will improve a lot over the next 12 months.

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When it comes to personal finances, people with lower incomes are more likely to say the economy is currently very bad (22 percent vs. 13 percent, respectively) and to believe that they will get worse over the coming year (20 percent vs. 9 percent).

However, 8 out of 10 Kenyans say government corruption is the biggest problem at 91 percent, followed by lack of employment opportunities, poverty and crime.

In all the three countries, people overwhelmingly believe luck of the ‘right’ connections is the major obstacle to employment.

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