A recent report by the Kenya Institute for Public Policy Research and Analysis (KIPPRA) has projected Kenya’s economy to grow by 5.7 per cent in 2024, up from 5.6 per cent in 2023.
The Kenya Economic Report 2024 attributes this positive outlook to a strong agricultural sector, bolstered by favourable weather conditions.
Themed “Enhancing Productivity for Sustained Inclusive Growth,” the report outlines several key drivers of the anticipated growth, noting that “the robust growth will also be supported by expansion in private and public investments, a growth-friendly policy environment, and enhanced revenue mobilization.”
The report also emphasises the role of international partnerships, such as China’s Belt and Road Initiative, in supporting Kenya’s economic expansion, particularly through significant infrastructure projects.
KIPPRA’s executive director, Rose Ngugi, highlighted the critical role of agricultural resilience, advocating for investments in irrigation, drought-resistant crops, fast-maturing varieties, and climate-smart practices to boost growth further.
KIPPRA chairperson, Benson Akong’o Ateng’, added that the “faster normalization of global financial conditions could ease domestic inflationary pressures and enhance economic performance,” pointing to improved conditions in the global financial landscape.
Kenya’s growth prospects for 2024 are set to be driven by a combination of strong agricultural performance, strategic investments, and international collaborations.
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