BUSINESS

Kenyan economy expected to grow 5.3 pct in 2022: official

Kenya President William Ruto

NAIROBI, Nov. 10 (Xinhua) — Kenya’s economy is expected to grow 5.3 percent in 2022, down from 7.5 percent posted in 2021, a government official said Thursday.

Njuguna Ndung’u, cabinet secretary for the National Treasury and Economic Planning, said that although the economy has demonstrated some kind of resilience and recovery from the COVID-19 shocks, its growth rate is expected to slow this year.

“The slowdown in growth is on account of the worst drought in the last forty years and the impact of the Ukraine-Russia conflict,” Ndung’u said in the Kenyan capital Nairobi during the launch of the 2023/24 financial year and medium-term budget preparation process.

The Kenyan official observed that the robust pace of economic recovery in 2021 has been derailed by the worsening drought which has affected over twenty counties in the East African nation.

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