Kenya’s economy has shown remarkable gains over the last five years, maintaining a robust growth rate. GDP growth stood at 5.4 percent in 2014, an improvement on the 5.1 percent recorded in 2013 and 4.6pc in 2012. The country’s annual GDP growth is projected to reach 7.0 percent by 2017 (6.7pc average CAGR 2014-2017).
Following the rebasing of calculations in 2014, Kenya’s GDP now stands at US$55 billion. The country is now ranked the 9th largest African economy and the 5th largest in Sub-Saharan Africa. There is global recognition of the major and positive economic and other reforms that are now taking place in Kenya. The changes point towards a positive economic outlook for the country.
In its latest report, Bloomberg ranks Kenya as the 3rd fastest growing economy in a global survey of 57 economies projected to register rapid growth this year. This places Kenya alongside China, India, the Philippines, and Indonesia as the only economies hitting a five per cent growth rate this year. Read more . Source | Capital Fm Kenya.