Businesses & Financial News

Kenya’s economy to grow by 6.0 percent in 2022

Kenya’s economy is expected to grow by 6.4 percent in 2021 and 6.0 percent next year, according to estimates by the Central bank of Kenya whose forecasts are higher than September’s 6.1 percent growth for this year and 5.6 percent in 2022.

Statistics further show that in the second quarter of 2021, Kenya’s real GDP grew by 10.1 percent, the first such growth in the country’s economic history registering an impressive GDP growth of Sh11 trillion today from Sh4.74 trillion eight years ago.

It now suggests that Kenya has gained more wealth than any other country in Africa, for a country that in 2013 ranked 12th wealthiest in Africa’s.

“This GDP was accumulated in a span of 123 years through the four administrations before ours. My Administration has multiplied this GDP by a factor of two. We have moved six ranks to become the 6th wealthiest nation on the continent, on account of the choices we have made,”  noted President Uhuru Kenyatta on Tuesday in his State of the Nation address.

 

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