As a market-based country Kenya has few owned infrastructure enterprises and maintains a trade liberalised external system. Known as the Eastern and Central Africa’s hub for communication, financial and transportation services, the post independence Kenya brought up a rapid economic growth by encouraging small holder agricultural production, public and industrial investment.
This year the Kenyan economy has slowed compared to the same quarter last year from 5.1 to 3.5 percent.
The Kenya National Bureau of Statistics (KNBS) said that this year’s first quarter growth was the slowest since 2008.It also added that the data released communication, wholesale, transport and retail are the only sectors that contribute to the overall growth to the economy of Kenya.
[sws_blockquote_endquote align=”left” quotestyle=”style02″]The high interest rates were primarily due to Central Bank tightening the monetary policy while inflationary pressure was mainly due to high oil prices[/sws_blockquote_endquote]
In January 2012 the agriculture sector suffered frost due to delayed rains which affected the horticulture sector while water, electricity, forestry and agriculture grew by 10.8, 5.9 and 2.3 percent in 2012 compared to 4.8, 4.8 and 0.2 percent same time in the previous year.
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