NAIROBI, Kenya, Nov 30 – The Central Bank of Kenya Tuesday projected Kenya’s 2021 Economic growth at 6.4 percent an upward revision from its initial 6.1pc estimates, a growth which was attributed to accelerated growth in key sectors of the economy.
CBK Governor Patrick Njoroge, who spoke during the post-Monetary Policy Committee (MPC) meeting further projected that the economy will expand by 6 percent in 2022.
During the previous post-Monetary Policy Committee (MPC) meeting, CBK had projected a 5.6 percent growth in 2022.
Njoroge said the figures are subject to the incorporation of 2021 quarter 3 figures and the possibility of new infections amid the new COVID-19 variant, Omicron.
According to CBK, the services sector is expected to grow by 10.5 percent, the industrial sector by 5.6 while the agriculture sector will contract by 0.6 percent.
“We expect to receive Q3 data in early December and that will give us better handle better projections, the projections are as before. with the optimism that we have since the economy was reopened,” he said.
