Assessing the Economic Security Impacts of Covid-19 Pandemic: Key Responses and Challenges in Kenya

Abstract

This study aimed to understand the economic security impacts of the COVID-19 Pandemic in Kenya. The pandemic was sudden, and the effects have been felt across all sectors of the economy. For a few sectors, they turned the epidemic to their advantage: sectors that secured tenders to manufacture masks and other necessities. However, the larger percentage has suffered a big blow from the pandemic. These challenges had serious impacts on the economic security of Kenya. the study, therefore, was guided by three main objectives. To examine the economic security of Kenya pre--Covid 19, to assess the economic security impact of Covid-19 in Kenya, and to identify research-based measures to address the economic security impact of Covid-19. The study. The study used the conceptual framework to examine the health emergency crisis, in this case, the COVID-19 pandemic and its economic security impacts, while evaluating the effectiveness of coping strategies. The study used a descriptive survey design, using both qualitative and quantitative forms of data. Primary data collection methods entailed the use of questionnaires, interview schedules, and observation. Secondary data was collected from both electronic and non-electronic repositories. The key findings of this study were, Kenya was economically insecure in the pre-Covid 19. Economically the country was on the right strides towards improved economic growth. however, Kenya was still generally economically insecure. Therefore, the pandemic made an already bad economic security situation worse. Covid-19 exposed underlying Kenya's economic insecurity as a number of sectors and individuals were hard hit by the impacts of the pandemic. the pandemic had economic, social, and health impacts. This exposed a number of citizens to the harsh economic condition thereby making the more economically insecure. The government of Kenya has responded to the economic security impacts of the pandemic. the government announced 100% tax relief to low-income earners, reduction of highest PAYE as well as reduction of corporate tax. However, more needs are done if Kenya is to recover fully and become economically secure. the study recommends that the government should give the poor more priority in post covid recovery program, wage subsidies for those who lost the jobs due to covid ad investment in local industry to cushion over-reliance on external products.