Treasury to reveal economic data

The National Treasury will on April 25 publish details on how the country’s economy performed last year.

While it is expected to report much better growth compared to 2017, the depressed rains this year will dampen the party with 2019 prospects looking bleak.

Kenya expects the economy to have expanded by about 5.8 per cent in 2018 as per projections by different institutions, although Treasury has been more optimistic, expecting a growth of six per cent.

Either way, the growth for 2018 will be much better compared to 4.9 per cent growth in 2017.

The country generally enjoyed good rainfall especially over the long rains season last year, but depressed rains during the October-December season might affect the numbers that Henry Rotich will read out tomorrow.

A delay in the onset of rains during the March-May season has cast a gloomy outlook for Kenya’s economy this year. The World Bank said the economy will grow at 5.7 per cent, which will be lower than 5.8 per cent recorded in 2018.

Its projection is a downgrade from earlier estimates of 5.8 per cent.

“A delayed start to the long rains season could affect the planting season, resulting in poor harvests,” said the bank in a statement earlier this month.

The International Monetary Fund has also downgraded its projections to 5.8 per cent in 2019 from the 6.1 per cent estimate made in October, also citing poor rains this season.