fbpx
Home Business Kenya projects economy to grow 6.1 pct in 2023

Kenya projects economy to grow 6.1 pct in 2023

by Tom Chiahemen
0 comment 1 minutes read

Kenya’s economy will recover from the 2022 election disruption to grow 6.1 percent in 2023, the National Treasury has projected in a report published Wednesday.

The Treasury said in its post-election report that the growth would rise from 5.5 percent in 2022.

“The economy will maintain that momentum over the medium term. This will sustain a stable microeconomic environment supported by sound and sustainable economic and fiscal policies,” said the Treasury.

Initially, the government had projected that the country’s economy would grow by 6 percent in 2022.

The Treasury, however, noted that besides the Aug. 9 elections, the growth was slowed down by the adverse impact of drought conditions and inflationary pressure.

Cabinet Secretary for National Treasury and Economic Planning Njuguna Ndung’u said the new government’s economic turnaround program seeks to increase investments in at least five sectors envisaged to have the biggest impact on the economy as well as on household welfare. These are agriculture; micro, small and medium enterprises (MSMEs); housing and settlement; healthcare and digital superhighway; and creative industry. 

Xinhua

You may also like

Leave a Comment

About Us

FRONTVIEW AFRICA is a Pan-African online Newspaper and Television with sharp, clear and factual News.

@2024 – All Right Reserved.