Kenya Spent 250B Fighting Covid-19 in 2020

Kenya spent approximately $2.4 billion (KSh250 billion) last year fighting the social-economic pressures of COVID-19 – accounting for 2.4% of the GDP.

According to the latest report by the International Monetary Fund (IMF), the country spent $2.3 billion on non-health measures and $100 million on healthcare.

The expenditure was the second-highest amongst low-middle income earning countries, with Nigeria topping the chart, having spent a total of $6.4 billion (1.5% of its gross domestic product).

The report comes at a time when the National Emergency Response Committee on Covid-19 is under pressure to account for funds received to mitigate the crisis.

The Covid-19 Fund Committee chaired by the East African Breweries Limited MD Jane Karuku received billions of funds and donations from corporates, government agencies, and individuals for the emergency kitty to help in containing the spread and effects of the virus.

The country also received sizeable credit from international partners to help mitigate the economic pressure of the virus.

The funds received include $1 billion (Sh106 billion) from World Bank to support its budget and cushion the economy in May, $739 million (Sh79 billion) from IMF to help the county cover the balance of payments shortfalls, and Ksh22 billion from African Development Bank (AFDB) to support the government’s efforts to respond to the Covid-19 pandemic and mitigate the related economic, health and, social impacts.