NAIROBI, Kenya, Sept 9 – The Kenya National Bureau of Statistics (KNBS) Thursday said\u00a0 the country’s economic growth is projected to grow over six percent in 2021 after declining by 0.3 percent in 2020.<\/p>\n
The economy in 2020 was 4.7 percent a decline from the 5 percent figure reported in 2019.<\/p>\n
“The contraction in Economic performance was attributed to a disruption in labour supply brought about by restriction of
\nmovement and social distancing meant to contain the spread of Covid-19,” the survey noted.<\/p>\n
Treasury Cabinet Secretary Ukur Yattani, while releasing the results, said the economic growth will be sustained through economic recovery strategies like employment opportunities for the youth.<\/p>\n
“We are confident that the economy will recover through the reforms we have been putting, the Kenya Revenue Authority, has for instance, been performing beyond the target,” he said.<\/p>\n
The survey noted that the economy was somewhat supported by accelerated growths in construction activities and health services which reported an 11.8 percent and 6.7 percent growth rates each.<\/p>\n
Finance and insurance activities followed with 5.6 percent while agriculture and ICT accounted for 4.8 percent growth each.<\/p>\n
“The improvement in Agricultural activities was due to sufficient rains that were well spread throughout the year,” the bureau noted.<\/p>\n
Hospitality, education, and transport were among the hardest hit sectors in 2020 recording 47.7 percent, 10.7 percent and 7.8 percent decline each.<\/p>\n
Wholesale and retail trade and manufacturing also reported a 0.4 and 0.1 percent decline each.<\/p>\n
“The large contraction in tourism and related activities was partly offset by growth in the Construction and Health sectors both driven by continued investment in public infrastructure and Health,” the survey added.<\/p>\n","protected":false},"excerpt":{"rendered":"
NAIROBI, Kenya, Sept 9 – The Kenya National Bureau of Statistics (KNBS) Thursday said\u00a0 the country’s economic growth is projected to grow over six percent in 2021 after declining by 0.3 percent in 2020. The economy in 2020 was 4.7 percent a decline from the 5 percent figure reported in 2019. “The contraction in Economic […]<\/p>\n","protected":false},"author":14203,"featured_media":22349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[851,809,1,800,687],"tags":[1142,934,1143,1141,1144],"coauthors":[],"class_list":["post-73567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agriculture","category-jobs","category-kenya","category-manufacturing","category-top-stories","tag-2021-economy-survey","tag-featured","tag-kenyas-economy-growth","tag-knbs","tag-projected-economy-growth"],"yoast_head":"\n