Nairobi, april 12, 2017kenyas gdp growth is projected to decelerate to 5. However, in the medium term, economic growth is projected to rebound to 5. Incoming data for the final quarter of 2019 is mixed, after the economy expanded at the slowest pace in two years in the third. This annual report examines africas performance in crucial areas. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations. In kenya economic development is dependent on agricultural improvement.
The outlook is positive, with growth projected at 6. Kenya economic survey 2019 kenya economic survey 2019. Abstract this is a critical time for kenya, as the incoming administrations at national and devolved levels face the high expectations of ordinary kenyans to deliver on ambitious. Access the latest politics analysis and economic growth summary through 2011 for kenya from the economist intelligence unit. The report also highlights significant allocations from the 201718 budget to. The kenya economic outlook 2016 report provides an overview of kenyas economic. Kenya gdp and economic data global finance magazine. The tanzania economic outlook 2017 report provides an overview of tanzanias economic environment and key sectors. Kenyas mediumterm outlook remains stable, despite drought challenges and a less favorable. Kenya economic update world bank documents world bank group. Political environment tanzania has continued to enjoy political stability since it became independent in the early 1960s.
Kenya has enjoyed strong growth in recent years and external imbalances have narrowed, strengthening resilience to shocks. Macroeconomic indicators expectations at start of the year 2016 experience going forward 2017 economic outlook inflation to remain within single digit levels, but above cbks upper bound of 7. Kenya economic outlook african development bank building. The kenya national bureau of statistics has released the 2019 economic survey report which highlights the countrys economic performance for the year 2018.
Gdp growth among selected countries in east africa5 3. The ieo2017 is the first ed ition of this report to include mo del results through. This outlook is exposed to at least two downside risks. Kenya national bureau of statistics is dedicated to presenting statistics produced according to internationally sound and scientific methods. We now expect kenya to enter recession in 2020, with real gdp contracting by 3. With 189 member countries, staff from more than 170 countries, and offices in over locations, the world bank group is a unique global partnership. The eius flagship service examines and explains the important political and economic trends in kenya. According to kenya national bureau of statistics knbs, kenyas economy. Jun 21, 2019 the kenya national bureau of statistics has released the 2019 economic survey report which highlights the countrys economic performance for the year 2018.
Kenya economy gdp, inflation, cpi and interest rate. Kenya economic outlook macroeconomic performance and outlook real gdp grew by an estimated 5. This page has economic forecasts for kenya including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions. The economy of kenya is a marketbased economy with a liberalised external trade system and a few state enterprises. Key economic indicators and projections for selected oecd countries, 2015 2019 table 1. Private consumption will account for an estimated 81. Inflation the kenya national bureau of statistics knbs reported that inflation increased from 7. But while the medium to longterm outlook appears favorable, kenyas economy remains vulnerable to downside risks. The report also highlights significant allocations from the 201718 budget to various sectors of the economy. Edition of the kenya economic update seeks to contribute to this discussion. A strong rebound in agriculture in kenya, rwanda, and uganda, following prior droughts, underpinned the pickup.
Kenya economy, politics and gdp growth summary the. Economic indicators for kenya including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and shortterm predictions for kenya economy. Kenya country report the economist intelligence unit. This paper mainly analyses the drivers of economic growth in kenya and the linkages. Kenya is the economic, financial, and transport hub of east africa. Kenya economic outlook 2017 joining the dots deloitte. The world bank has cut its 2017 growth estimate for kenyas economy to 4. August 2017, the economic intelligence unit eiu predicts that political tensions. The table below shows the contributors to the overall gdp growth, of which taxes was the main driver with. Political environment the economic intelligence unit eiu predicts that political.
The graphics in this presen tation focus on projections through 2040. The report also highlights significant allocations in the 201718 budget to various sectors of the economy. Ugandas economic growth has slowed since 2016, with the growth rate dropping from 5. Below are observations to be taken into account when using the statistics in economic survey 2016.
The ieo2017 is the first ed ition of this report to include mo del results through 2050, which are available on the ieo page of the eia website. Incoming data for the final quarter of 2019 is mixed, after the economy expanded at the slowest pace in two years in the third quarter amid easing activity in the allimportant agricultural sector. A drought in the earlier half of the year, the ongoing slowdown in private sector credit growth, and a prolonged election cycle weakened private sector demand. Kenyas development journey, it is my pleasure to present the 17th edition of the kenya economic update. The international monetary fund imf believes that the kenyan economy will grow by 5% in 2017 and 5. The economy remained fairly resilient in the first quarter of 2017, growing by 4. Kenya has made significant political, structural and economic reforms that have largely driven sustained economic growth, social development and political gains over the past decade. Eias international energy outlook 2017 ieo2017 presents an assessment of longterm world energy markets. However, its key development challenges still include poverty, inequality, climate change, continued weak private sector investment and the vulnerability of the economy to internal and external shocks. The kenya economic outlook 2017 report provides an overview of kenyas economic environment and key sectors.
Politics will be less partisan for a while, but divisions will resurface as the elections approach in 2022. From 1963 to 1973 gross domestic product gdp grew at an annual average rate of 6. Nov 14, 2017 kenya is facing an economic storm in 2018 in the aftermath of two disputed elections. Data sources the statistics presented in economic survey 2016 are based on a wide variety of sources. This sixteenth edition of the kenya economic update seeks to contribute to the policy discourse on pertinent economic issues. World bank cuts kenyas 2017 economic growth estimate to 4. This page has economic forecasts for kenya including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the kenya economy. Kenya is facing an economic storm in 2018 in the aftermath of two disputed elections. Economic activity in kenya remained robust in 2016.
Disclaimer this publication contains general information only, and none of. Browse additional economic indicators and data sets, selected by global finance editors, to learn more about kenya economic outlook, debt to gdp ratio, international trade performance and. Economic survey 2017 kenya national bureau of statistics. Kenyas real gdp growth has averaged over 5% for the last eight years. Growth was driven, on the supply side, by the nonagricultural sector, with services leading the way. Abstract this is a critical time for kenya, as the incoming administrations at national and devolved levels face the high expectations of ordinary kenyans to deliver on ambitious economic development agendas and hasten the attainment of vision 2030. Rankings of kenya best banks and safest banks are also available. Growth in the eac countries decelerated in 2017, but is still above. Each of our country reports contain indepth and ongoing analysis and forecasts of political, policy and economic conditions in kenya, to help you understand what is happening now and to gain a picture of how kenya will look in the future. Looking forward, african economic growth is projected to accelerate to 4percent in 2019 and 4. The kenyan economy faced multiple headwinds in 2017. International scene world real gross domestic product gdp growth decelerated to 2. The downside risks to this outlook arise from subdued private sector.
The paper argued that kenya should instead concentrate on african socialism, while avoiding linking kenya s economic fortunes to any country or group of countries. Kenya african economic outlook 2017 real gdp growth increased to an estimated 6. African economic outlook 2017 entrepreneurship and. Economic growth the services sector has been a major driver of growth for kenya, and will continue to do so during 2018. Supported by improved rains, the dissipation of political uncertainty which held back investment, and the ongoing broadbased recovery in the global economy, gdp growth is expected to recover to 5. Restructured the fertilizer subsidy program from a manual program to an. Private sector credit growth fell from its peak of about 25 per cent in mid2014 to 2 per cent in october 2017 its lowest level in over a decade, the 2017 kenya economic. The report also highlights significant allocations in the 201718.
This annual report examines africas performance in. Apr 12, 2017 kenyas gdp growth is projected to decelerate to 5. Press%20release%20%20meeting%20of%20september%2025,%202018. Macroeconomic indicators expectations at start of the year 2016 experience going forward 2017 economic outlook inflation to remain within single digit levels, but above cbks upper. Browse additional economic indicators and data sets, selected by global finance editors, to learn more about kenya economic outlook, debt to gdp ratio, international trade performance and population trends. The african economic outlook 2017 presents the continents current state of affairs and forecasts its situation for the coming two years. Major industries include agriculture, forestry, fishing, mining. F world economic outlook 2017 database indicates that kenya. Economic indicators for kenya including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and shortterm predictions. Kenyas economic outlook to dip in 2017 world bank report. According to the latest forecast from the economic intelligence unit, tanzania, kenya and rwanda will be among the 20 fastest growing economies in 2017. Dec 07, 2017 the world bank has cut its 2017 growth estimate for kenya s economy to 4.
Rapid increases in inflation could reduce economic growth and worsen the poverty levels of the citizens of kenya. Uganda economic outlook april june 2017 5 2bank of uganda mpc report february 2017 with a favorable in. In fy 201617, revenue collections dropped by 4%, as public debt. Kenya q22018 gdp growth and 2018 outlook according to kenya. The last article iv executive board consultation was on june, 2018. Key economic and social indicators, 202017 8 table 1. First, after multiple headwinds dampened growth in 2017, the incipient rebound in economic activity in kenya is gaining momentum. Press% 20release%20%20meeting%20of%20september%2025,%202018.
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