@BdAfrica

IMF tips Kenya economy to hit Sh10trn this year - 2 months ago, 15 Apr 12:13

Victor Juma

The size of Kenya’s economy is projected to reach the Sh10.1 trillion mark this year, the latest statistical estimates by the International Monetary Fund (IMF) have shown.

This will mark the largest absolute expansion in recent years, with the gross domestic product (GDP) estimated to rise by Sh1.1 trillion from Sh9 trillion in 2018.

In percentage terms, the growth this year is estimated at 5.83 percent, a slight decrease from 5.95 percent last year.

If the IMF projections hold out, Kenya’s economy could grow to Sh15.7 trillion in 2023.

The country expects to start commercial oil exports in 2022, a move that is expected to boost the GDP considerably.

A larger economy, coupled with strong growth in the coming years, means better prospects for expansion of jobs, labour earnings, investment opportunities and delivery of social services by the government.

Analysts say the government needs to entrench macroeconomic stability to maintain the growth momentum.

“We need ...
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