Kenyan economy grew 5.8 percent last year
According to the Kenya National Bureau of Statistics, Kenya’s economy grew 5.8 percent during 2016, slightly short of forecasts (government officials estimated the economy to have expanded by 5.9 percent), but a little above the 5.7 percent growth it saw during 2015. Moreover, the current account deficit narrowed 11.9 percent in 2016, to 5.2 percent of GDP.
Zachary Mwangi, director general of the Kenya National Bureau of Statistics, said that a recovery in tourism boosted the number but that other sectors, such as farming and the construction sector, grew at a slower rate. He further noted that the main risks facing economic growth during 2017 were internal.
According to Mwangi, in the tourism sector, earnings rose 17.8 percent, to 99.7 billion shillings (some $964.68 million), while the ICT sector also grew at a faster pace, due to growth in the number of mobile phone users and internet subscriptions.