Kenya’s economy grows 5.4% in second quarter helped by agriculture

Reuters News

Kenya’s economy grew 5.4% year-on-year in the second quarter of this year, slightly better than the 5.2% growth in the same quarter of 2022 thanks to a rebound in the agricultural sector, official data showed on Thursday.

The East African nation has witnessed rapid growth in recent years, helped by its diverse economy, which does not rely on a single commodity or service, or one major trading partner.

The finance ministry forecasts the economy will grow 5.5%

this year, from 4.8% last year, before jumping to a minimum annual growth rate of 7.2% by 2027.

But the country’s heavy debt burden and weak currency have raised concerns about the sustainability of its public finances.