Tourism resurgence lifts 2016 economic growth to 5.8pc
Recovery of the tourism sector in 2016, spurred the economy to record 5.8 percent growth up from 5.7 percent a year earlier.
The performance was however just shy of the National Treasury’s target to attain 5.9 percent growth.
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Data released by the Kenya national Bureau of Statistics however paints a grim picture with most economic sectors witnessing a decline during the year.
Devolution and Planning Cabinet Secretary Mwangi Kiunjuri said the ongoing drought and global uncertainty are likely to affect economic growth in 2017.
Already the World Bank and the International Monetary Fund have revised Kenya’s 2017 prospects to 5.5 percent.
The upcoming general election is also seen a factor that will slow growth.
The 2017 Economic Survey indicates that Kenya’s gross domestic product is valued at Sh7.1 trillion up from Sh6.2 trillion in 2015.
More to follow….