- June 8, 2020
- Posted by: IPF Kenya
- Category: Publications
2019/20 Fiscal Analytic Snapshot: Kenya
Economic growth in Kenya has been robust and stable since the global financial crisis, with the economy expanding by 6.3% in 2018. Over the last 5 years, annual GDP growth in Kenya has averaged 5.6% in real terms, driven by an expansion in public spending and growing private consumption. This growth has been relatively broad-based, indicating a well-diversified economy. On average, the services sector accounts for over half of total GDP growth (55%), while agricultural output accounts for an average of 24% and industry the remaining 21%.