The Macroeconomic Outlook for Kenya in First Half of 2017

The macroeconomic environment for Kenyan remained relatively stable during the first half of 2017.

According to economic analysts, the stability in the macroeconomic activities was as a result of the government’s continuous investment into the infrastructural sector.

Kenya National Bureau of Statistics says that Kenya’s economy expanded by 4.7 percent in 2017 being a drop from 5.9 percent in 2016.

KNBS attributed the drop in economic growth to the contraction in the agricultural sector due to the ongoing drought around the country.

Credit uptake during the first half of 2017 dropped to 3 percent. This was the lowest credit uptake in a period of 8 years and the a huge drop from a high of 17 percent in 2016.

Economic analysts are also worried of a more contraction in economy as the country moves towards the general election on 8th of August 2017.

 

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