Browsing: Kenya’s economic growth

Kenya's economic growth
  • Kenya’s economic growth will average 5.2% in 2023 and 2024, notwithstanding current global and domestic shocks
  • The World Bank said the baseline assumes a robust growth of credit to the private sector, continued low COVID-19 infection rates and a near-term recovery in agricultural production
  • The report also noted that the country’s economy continued to rebound from the pandemic in 2022, with the real gross domestic product (GDP) increasing by 6% year-on-year in the first half of 2022

A new report has revealed that Kenya’s economic growth will average 5.2% in 2023 and 2024, notwithstanding current global and domestic shocks.

In its latest finding on the East African nation, the World Bank said the baseline assumes a robust growth of credit to the private sector, continued low COVID-19 infection rates, a near-term recovery in agricultural production, and high commodity prices favourable to Kenyan exports.

“We expect these developments to catalyse private …

Kenya's economic growth
  • The Kenyan economy will expand by 4.9 per cent in 2022, according to the NCBA Economic Outlook 
  • The figure is a 0.3 per cent drop from its initial 5.2 per cent forecast made in November 2021
  • The downgrade is a consequence of several challenges being witnessed in Kenya  
  • Top of the challenges includes the negative spillover effects of the Russia-Ukraine crisis, an uncertain external landscape, and domestic election jitters

A new report has indicated that Kenya’s Gross Domestic Product (GDP) will expand by 4.9 per cent in 2022.

In its latest instalment, the NCBA Economic Outlook Report observed a 0.3 percentage point decline from its initial 5.2 per cent forecast in November 2021.

According to the report, the downgrade of Kenya’s economic growth is a consequence of several challenges being witnessed in East Africa’s largest economy.

Top of the challenges includes the negative spillover effects of the Russia-Ukraine crisis, an

For almost a decade, Kenya diversified its industrial foundation under Kibaki and improved the logistical distribution especially seaport and airport which eased the penetration of goods and services within East Africa.

Nairobi remained relatively robust financially until the end of the first term of Kibaki’s successor, President Uhuru Kenyatta.…