Question

impact of financial crisis 2008 in kenya

Answer 1

Q: Impact of Financial crisis 2008 on Kenya:

Kenya's economy hitted by the financial crisis in 2008 which was both short erm and long run .

The country's home currency shilling was depreciated mostly to dollar of U.S . Approximately shilling was depreciated first 12 % and then fell as low as 79 percent in october 2008.

The kenyan fallout was measured in four broad segments which were exports of horticulture products, tourism ,aid remittance from kenyan diaspora. Kenya's GDP also affected due to this.

The stock market of kenya and respective investors at that point of time recorded sharp fall in their investment resulting around 27% fall of stock market of Kenya.

Foreign direct investment was also htted by so much as companies were running loss that time.