Devolution Cabinet Secretary Anne Waiguru will on Wednesday launch the 2015 report on the state of the Kenyan economy.
The
2015 Economic Survey report will reveal whether the Kenyan economy has
been performing well or declining and indicate which areas of the
economy require adjustment and radical reforms.
The
report, to be launched at the Kenyatta International Convention Centre,
will also show whether areas marked for improvement last year have
recorded any significant changes.
Last year, the
wholesale and retail sector were identified as the main drivers of the
economy, followed by the financial intermediation sector such as the
banking industry, while the agricultural sector was the least
productive.
The communication sector also recorded
significant growth in value as the number of mobile connections rose
from 30.4 million in 2012 to 31.2 million in 2013.
TERROR ATTACKS
Employment
recorded a positive change last year as the total number of persons
engaged in both the formal and informal sectors increased from 12.8
million in 2012 to 13.5 million in 2013, translating to 742,800 new
jobs.
But the tourism sector suffered a major blow
after a series of terrorist attacks at different hotspots in the country
prompted major tourist sources to impose travel advisories on Kenya.
Growth
in the agricultural sector also decelerated in 2013 to 2.9 per cent
from a revised growth of 4.2 per cent in 2012 partly due to inadequate
rainfall received in some grain-growing regions.
One of the expectations in this year’s report is that the total revenue will surpass the one-trillion-shilling mark.
This year’s report is also expected to show whether county development budgets have spurred further economic growth.
Investment
in the construction industry is likely to remain robust against a
background of stable interest rates coupled with the ongoing government
infrastructure projects and the private sector's resilient participation
especially in real estate development.
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