• Labour Wrap

    Terry Bell says the labour movement in SA is currently in a state of confusion.

  • Will the NPA stand up?

    Solly Moeng wonders if the NPA head will reinstate criminal charges against president Zuma.

  • Commodity currency

    Jac Laubscher asks if the true exchange rate of the rand is really a cue from commodity prices.

All data is delayed
Loading...
See More

Kenya sees 5% economic growth

Jan 08 2013 19:32
Reuters
Nairobi - Kenya's government expects its economy to expand by 5.6% this year, up from about 5% in 2012, with growth rising to 6% in the medium term, the finance ministry said.

It cited growth in the agriculture sector, which was likely to increase output due to favourable weather, as well as infrastructure projects in transport and energy.

Growing exports to neighbouring countries whose economies are booming and higher consumer demand at home on the back of falling inflation could also boost growth, it said in a Budget Policy Statement seen by Reuters on Tuesday.

Year-on-year inflation, which fell to 3.2% last month, was expected to hover at around the government's target of 5% over the next few months, barring sudden jumps in prices of oil and other commodities.

The Treasury projected that the current account deficit, which widened to over 10% of GDP last year due to growth in imports, would narrow to 5.4% by 2015/16 fiscal year.

The budget deficit was set at 4.3% of GDP, down from 6.5% in this fiscal year. The government uses the Policy statement as a guide for the budget, which will be presented to parliament in June.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

kenya  |  economy

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...