Kenya's Economic Growth in 2014 and 2015.

Kenya's Economic Growth in 2014 and 2015.

Kenya, undoubtedly, is on increase, it’s average economic growth for the last four years has achieved 5%, this increment is made by growing turnover between Kenya and its main trade partners. Bumper harvest of exporting rain-fed agriculture has improved situation too.

So what can be expected from the Kenya economy in 2014 as well as 2015? It is all up to global economic juncture and demand for goods exported by Kenya. Economic growth of country in 2014 and 2015 will be dependent on two facets that are the foundation of future Kenya development: growth of financial intermediation, tourism, construction and agriculture and coping with internal dangers looming over Kenya. The greatest problems of country are profoundly large scale of corruption and poverty, 45 per cent of population are still below the poverty line. 

Some sceptics still are inclined to dispose of potential of Kenyan economic might, however, GDP growth rate in 2013 was an estimated 4.4 %, compared to an annual real GDP growth rate of 3.4% in 2011 and 5.8% in 2010. Nowadays Kenyan economy is largely dependent on demand for Kenyan horticultural exports in the European market. Approximately 25 per cent of total export are made to EU. Other sectors try to keep up with agricultural one, however, tourism, manufacturing and construction sectors will not reach the anticipated growth levels in 2014 and 2015, if government is still so passive in fighting corruption that, in turn, will deter foreign investments.

kenya's economic growth

The potential menace made by inflation, will not sustainable threat,  due to the adequate manipulations with gold-currency reserves, consumer price index is expected to remain in the single-digit range over the same period. Besides, the possibility of political crisis is low too, Kenyan establishment has postponed such ways of making deals as revolutions and harmed risings. Therefore, there is no difference which coalition wins the elections in 2015, radical changes in economic governance are not expected, thereby guaranteeing the stability of economic fundamentals.

kenya's economic growth in 2014

So that the bottom line is that situation in Kenya will be stable over foreseeable future and it will result in stable economic growth, in 2014 it is expected to reach 4% and more in 2015 due to growing flow of foreign investment, prospective promotion of Kenyan goods on global markets and increment in demand for agricultural products, especially, for tea and cut flowers.

kenya's economic growth today

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