Kenya’s economy is expected to grow at the rate of 5.25 and 5.75 percent in 2018 according to a report released by Genghis Capital.
“We forecast Kenya real GDP to grow between 5.25 and 5.75 percent this year,” said Genghis.
Genghis says this year’s economy will focus on the government’s Big Four agenda will aims at food security, affordable housing, and value addition in the manufacturing sector as well as affordable healthcare.
According to Genghis, the 2018 Kenya’s economy will be anchored on the rebound in both the public and private investment back to normalcy after a stiff electioneering period in 2017, positive performance in the agricultural sector growth aided by the improved weather pattern.
Continued rebound in the service sectors such as tourism and information communication will also be helpful in determining the economic growth of the country.
The report by Genghis comes after 11 other researchers gave an average growth of 5.6 percent of overall Kenya’s GDP.
The Central Bank of Kenya was the first to put the country’s growth at 6.2 percent followed by the National Treasury which estimated it at 6.0 percent.
African Development Bank and Stanbic Bank estimated that the economy will grow at 5.6 percent in 2018.
International Monetary Fund, World Bank, Fitch Ratings, and Barclays Africa Group Limited foresaw the economy growing at 5.5 percent.
Standard Chartered and Cytonn Investments Limited placed the growth at 5.4 percent while Focus Economics saw it grow at 5.3 percent.