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Thursday, May 19, 2022

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Kenya’s economy is projected to grow 6.6% in 2021

Kenya’s economy is projected to grow by 6.6 percent in 2021, up from the 0.6 percent recorded last year, a government official said on Thursday.

Albert Mwenda, acting director-general of budget fiscal and economic affairs with National Treasury told a forum in Nairobi that the country has already experienced a relatively strong economic recovery in the first three months of the year.

“The economy will be supported by a stable macro-economic environment as well as ongoing investments in the country’s national development big four agenda,” Mwenda said during the launch of the 2022/23 financial year and the medium-term budget preparation process.

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According to the national treasury, the economy has not fully recovered from the negative impacts of the COVID-19 pandemic.

Mwenda said that the favorable weather this year is also expected to support agricultural output and boost economic expansion.

Ukur Yattani, cabinet secretary of National Treasury, said that the prospects for Kenya’s economic recovery will center on the progress of the vaccination effort which could see the economy rebound to above six percent over the medium-term.

Yattani added that a lot still needs to be done to reverse the negative impacts of the pandemic, including disruption of business, loss of jobs and incomes.

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