Kenya’s economy projected to grow by 6.1 percent in 2020

Wpid Money Growth

Kenya’s National Treasury projects that the country’s economy will grow by at least 6.1 percent in 2020, up from 5.6 percent recorded in 2019.

The National Treasury Cabinet Secretary Ukur Yatani noted that the growth will be supported by the strong services sector, stable macroeconomic environment and ongoing investments in strategic priorities of the government under the “Big Four Agenda”.

Yatani noted that last year, one of the things that slowed down economic growth was delayed rainfall in the first half of 2019 that affected agricultural production.

According to the Budget Policy Statement for 2020 released recently, domestically, the economy will continue to be exposed to risks arising from public expenditure pressures, particularly related to wage recurrent expenditures and the inevitable climate change and variability which has enhanced the frequency of disasters such as landslides, droughts and destruction of physical infrastructure.”

Further, the locust invasion witnessed in northern parts of the country in late 2019 and early 2020 pose risks to agricultural production and food security.

“These shocks are likely to have negative impacts on energy generation and agricultural output leading to higher inflation that could slow down economic growth,” said Yatani. Enditem

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