Kenya’s economy is expected to grow by 6.4 per cent in 2021 from 0.6 per cent in 2020, says the country’s Cabinet Secretary, National Treasury and Planning, Ukur Yatani.
In a draft ‘2021 Budget Policy’ statement, he said, “Consequently, growth is projected to bounce back to 6.4 per cent in 2021 from the projected 0.6 per cent in 2020.”
A stable macroeconomic environment, a turnaround in trade, and favourable weather are considered by the country as the magic wands expected to support agricultural output for growth projection in 2021.
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However, Yatani noted that the COVID-19 pandemic and efforts to contain it adversely affected businesses and economic activities in the country.
“As a result, our economy contracted by 5.7 per cent in the second quarter of 2020 from a growth of 4.9 per cent in the first quarter of 2020 largely due to significant contractions in the services and industry sub-sectors,” he stated.
Yatani added that through the gains made under the Economic Stimulus Programme, the government would roll out the ‘Post-COVID-19 Economic Recovery Strategy’ to mitigate the adverse impacts of the pandemic and reposition the economy on a growth trajectory.
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