Kenya’s economy forecast to grow by 6.3% in ’24

Kenya‘s economy is anticipated to achieve a growth rate of 6.3 per cent this year, surpassing the estimated 6.1 per cent in 2023, according to Reuters citing the country’s Finance Ministry.

This reflects an upwards adjustment from earlier forecasts made in February, which projected growth rates of 5.5 per cent for both this year and 2023, up from 4.8 per cent in 2022.

The ministry’s upgraded projections for the current and previous years were unveiled in the government’s economic plan spanning until 2027, released during an event in Nairobi, the capital city.

The anticipated growth is attributed to the expansion of sectors such as agriculture and small and medium enterprises, according to the economic plan.