Kenya’s economy is expected to expand by 5.6% this year, President William Ruto said on Wednesday, exceeding last year’s growth of 4.7% and beating earlier government and central bank projections.
That outlook is stronger than the 5.3% forecast by the finance ministry and the 5.2% projection issued by the central bank in June, according to Reuters.
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“GDP (gross domestic product) is expected to grow 5.6% this year, despite global domestic headwinds arising from escalating tariffs and trade disruptions affecting many economies,” Ruto said during a speech in Yokohama, Japan, at the TICAD 9 conference.
The finance ministry noted that East Africa’s largest economy continues to follow a path of steady growth but warned that risks remain from global trade tensions, market volatility, and extreme weather patterns.
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Image Credit: Reuters
