">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Tuesday, January 19, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Tech

Kenyan Economy Records Growth In 2013 & Projects Improvement In 2014

Caroline Vutagwa by Caroline Vutagwa
7 years ago
in Tech
31 min read
0

ECON

The government, through the Ministry of Devolution and Planning, unveiled a report that indicates that the country’s domestic economy grew by 4.7 percent last year compared to 4.6 percent the previous year. This represents a steady progress that is on course towards the achievement of double-digit growth by the year 2017.

At the launch of the 2014 Economic Survey Report, Ministry of Devolution and Planning Cabinet Secretary, Ms. Anne Waiguru,said: “Growth in Sub-Saharan Africa and the East African Community (EAC) remained relatively robust with real GDP estimated to have expanded by 5.0 and 6.1 percent, respectively in 2013. This was due to an increase in trade and investment with emerging market economies.”

The economy however recorded lower growth last year than projected as a result of several factors that include:

  • Depressed performance of the rains that affected the agriculture sector;

  • Decline in exports resulting to worsening of trade balance;

  • Comparably higher interest rates, crowding out private sector investment;

  • Reduced spending by government agencies,

  • During the transition and general Insecurity concerns in the country.

Key sectors recorded mixed results with majority sustaining positive figures over that period. Agriculture, and Wholesale and Retail Trade are some of the sectors that recorded minimal decline while the Manufacturing, Construction and Transport sectors registered steady growth.

Over the same period, annual average inflation decreased from 9.4 percent in 2012 to 5.7 percent last year; an occurrence that was largely attributed to improved supply of basic foodstuffs and stable domestic prices of petroleum products.

Conversely, Total exports declined by 3.0 percent while total imports increased by 2.8 percent. 

READ  HMD serves first slice of Android 9 Pie on the Nokia 7 plus

Similarly, the country’s overall balance of payments position declined from a surplus of KSh 123.0 billion in 2012 to a surplus of KSh 74.0 billion in 2013. 

This was due to the current account deficit worsening by 14.7 percent as a result of earnings from merchandise exports dropping by 4.1 percent to KSh 501.2 billion, and tourism earnings declining by 2.1 percent. 

In the year 2014, the Kenyan economy is set to significantly grow as a result of projected expansion of world trade volume at 4.8 percent in 2014 supported by an increase in global commodity demand that may see Kenya’s exports register some growth during the year.

CS Anne Waiguru said: “The macroeconomic stability witnessed in 2013 continued into the first quarter of 2014 and is likely to be maintained to the rest of the year, while operationalization of the development budget in the counties is expected to spur further economic growth.”

Related posts

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0

Use these smart TV security tricks to protect your privacy

January 18, 2021
0
A salesman checks a customer's iPhone at a mobile phone store in New Delhi, India, July 27, 2016. REUTERS/Adnan Abidi

How To Measure How Much You Walk On Your iPhone

January 17, 2021
0

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
0
Readers 893

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Caroline Vutagwa

Caroline Vutagwa

Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

Related Posts

Business

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0
Tech

Use these smart TV security tricks to protect your privacy

January 18, 2021
0
A salesman checks a customer's iPhone at a mobile phone store in New Delhi, India, July 27, 2016. REUTERS/Adnan Abidi
Mobile

How To Measure How Much You Walk On Your iPhone

January 17, 2021
0
cryptocurrencies

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
0
How To

How to fuliza by Safaricom guide

January 15, 2021
0
Tech

ASUS debuts new ZenBook Duo | Pro Duo, VivoBook, ExpertBook and Chromebook laptops at CES 2021

January 15, 2021
0
signal-apps
Tech

Is Signal That Different From WhatsApp? Here Are 5 Ways It May Be Different

January 15, 2021
0
Tech

Are Cheap TikTok Likes Inferior To Expensive Ones? Read Our Experts’ Discussion

January 15, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

How to move all of your WhatsApp groups and get started with Signal

January 18, 2021

How to Apply Online Single Business Permit.

January 18, 2021

What to do to check whether the signal is down

January 18, 2021

Top 5 Financial Assets to Invest In 2021 According to Experts

January 18, 2021

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: