Kenyan Economic Growth Slows in Fourth Quarter on AgricultureDavid Malingha Doya
Economic growth in Kenya slowed in the fourth quarter as output by the East African nation’s farmers dropped, the state-run Kenya National Bureau of Statistics said.
Gross domestic product rose 5.1 percent on an annual basis in the three months through December, compared with a revised 5.4 percent the quarter earlier, the Nairobi-based bureau said in a report handed to reporters Wednesday. Growth in the agriculture industry eased to 3.8 percent in the fourth quarter, compared with 6.8 percent in the earlier period.
“Agriculture slowed in the fourth quarter and whenever agriculture slows it affects the whole GDP performance,” Zachary Mwangi, director-general of the bureau, said in an interview. Farm output accounts for about 15 percent of Kenya’s gross domestic product.
Kenya revised its measure of GDP in September, increasing the size of its economy by 25 percent to $55.2 billion. The National Treasury forecasts the economy will expand by 6.9 percent this year from 5.3 percent in 2014.
The economy created 799,700 jobs last year, Devolution Secretary Anne Waiguru told reporters.