Browsing: kenya’s gdp in 2022

Businesses in Kenya see mild rise in activity despite loss of momentum in October

How Kenya’s economy performed in first half of 2022

Business
  • A new report by Knight Frank indicates that the ongoing war in Ukraine will affect Kenya’s overall gross domestic product in 2022 
  • According to the Half-year report, Kenya’s gross domestic product is projected at 5.5 per cent in 2022, lower than last year’s 7.5 per cent
  • While Kenya has no significant direct trade with Russia and Ukraine, its exposure – as a net fuel, wheat, and fertiliser importer – to the global price impacts of the Russian invasion of Ukraine remains telling

Kenya’s gross domestic product is projected at 5.5 per cent in 2022, lower than last year’s 7.5 per cent, owing to persisting drought and Russia’s invasion of Ukraine.

According to a Knight Frank finding, Kenya has no significant direct trade with Russia and Ukraine. In fact, only  2.1 per cent of Kenya’s trade between 2015 and 2020 was from Russia and Ukraine combined.

Nevertheless, the report noted that …

Kenya’s GDP growth downgraded to 4.9% as shocks continue to bite

Banking
  • 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

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