Kenya registers second worst economic growth in five years

Devolution and Planning Cabinet Secretary Anne Waiguru and Kenya National Bureau of Statistics Chairman Terry Ryan during the launch of 2015 Economic Survey at KICC. [Photo: Beverlyne Musili/Standard]

The economy grew by 5.3 per cent last year, a dip from the 5.7 per cent recorded in 2013, after the country took a hit from a decline in tourism earnings and a sluggish manufacturing sector.

This is expected to have negative bearings on the Government’s ambitious plan to raise spending by 25 per cent to Sh2.17 trillion in the next financial year. Already, the taxman is struggling to meet revenue targets from the country’s jewel sectors of agriculture, manufacturing and tourism, whose growth is pointing south.