Browsing: Kenya’s GDP

• 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 …

• The economy of Kenya will grow by 5.5 per cent in 2022 and 5.2 per cent on average in 2023–24
• Data by World Bank indicates that while still strong, the growth rate will be moderate following a remarkable recovery in 2021 from the worst economic effects of the pandemic
• The bank noted that the impact of the war in Ukraine is weighing on the global economic recovery from the pandemic

The World Bank has projected that Kenya’s real gross domestic product (GDP) will grow by 5.5 per cent in 2022 and 5.2 per cent on average in 2023–24.

According to the group, while still strong, the growth rate will be moderate following a remarkable recovery in 2021 from the worst economic effects of the pandemic.

During the period, the country’s economy grew by 7.5 per cent, much higher than the estimated average growth in Sub-Saharan Africa of 4 per cent.…

Wealthy Kenyans are hoarding nearly two times Kenya’s 2018-19 Sh3 trillion (USD 30 billion) budget representing about 65 per cent of Kenya’s GDP.…