The Impact of Government Economic Policies on the Education Sector

Abstract

In July 2023, the Government of Kenya released its national 2023/24 Financial Budget with a deficit of KeS 718 billion, to be financed through domestic and external financing. The internal financing would be through internal borrowing, manipulation of money supply, and taxation, while the external funding may be through loans and grants. The taxation method is referred to as fiscal policies, and the money supply is monetary policies. This paper investigates the effect of monetary and fiscal policies on education in selected countries and applies the understanding to policymakers in Kenya.