Kenya Projects 5.5 Percent of Economic Growth in 2024
The ministry said in its Budget Policy Statement for 2024 that the expansion would be supported by the continued growth of the services sectors, the rebound in agriculture, and the ongoing implementation of measures to boost economic activity in priority sectors by the government.
"The economy is expected to remain strong and expand by 5.5 percent in both 2023 and 2024, and 5.4 percent in 2025," the Treasury said in the statement released in Nairobi, the capital of Kenya.
The Treasury noted that the Kenyan economy, which grew 4.8 percent in 2022, is demonstrating resilience with growth performance well above the global and sub-Saharan Africa average.
Growth in sub-Saharan Africa is expected to rebound to 4 percent in 2024, picking up from 3.3 percent in 2023, according to the International Monetary Fund.
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