01.03. Economic and social situation | Kenya

01.03. Economic and social situation | Kenya

02 Mar 2022

Key developmental challenges affecting access to health care and economic growth include political instability and climate change. Real Gross Domestic Product (GDP) was estimated to be 5.9% in 2018 with mainly services accounting for 52.5% of the growth since 2017, agriculture (the backbone of the Kenyan economy) for 23.7%, and industry for 23.8% on the supply side and private consumption as the key driver of growth on the demand side (African Development Bank Group, 2019). Real GDP was projected to grow by 6.0% in 2019 and 6.1% in 2020. The public debt–to-GDP ratio was 57% at the end of June 2018 (African Development Bank Group, 2019) reflecting a volatile economy.

References:

African Development Bank Group. (2019). Kenya Economic Outlook. https://www.afdb.org/en/countries-east-africa-kenya/kenya-economic-outlook