Devolution and Planning Cabinet Secretary Anne Waiguru (centre) with Principal Secretary in the ministry Peter Mangiti (right) and Kenya National Bureau of Statistics Board Chairman Terry Ryan during the release of the 2014 Economic Survey Report at KICC on the April 29, 2014. PHOTO | EVANS HABIL
What you need to know:
The report will reveal whether the Kenyan economy has been performing well and indicate which areas of the economy require adjustment and radical reform.
Devolution Cabinet Secretary Anne Waiguru will on Wednesday launch the 2015 report on the state of the Kenyan economy.
The 2015 Economic Survey report will reveal whether the Kenyan economy has been performing well or declining and indicate which areas of the economy require adjustment and radical reforms.
The report, to be launched at the Kenyatta International Convention Centre (KICC), will also show whether areas marked for improvement last year have recorded any significant changes.
Last year, the wholesale and retail sector were identified as the main drivers of the economy, followed by the financial intermediation sector such as the banking industry, while the agricultural sector was the least productive.
The communication sector also recorded significant growth in value as the number of mobile connections rose from 30.4 million in 2012 to 31.2 million in 2013.
Employment recorded a positive change last year as the total number of persons engaged in both the formal and informal sectors increased from 12.8 million in 2012 to 13.5 million in 2013, translating to 742,800 new jobs.
But the tourism sector suffered a major blow after a series of terrorist attacks at different hotspots in the country prompted major tourist sources to impose travel advisories on Kenya.
Growth in the agricultural sector also decelerated in 2013 to 2.9 per cent from a revised growth of 4.2 per cent in 2012 partly due to inadequate rainfall received in some grain-growing regions.
One of the expectations in this year’s report is that the total revenue will surpass the one-trillion-shilling mark.
This year’s report is also expected to show whether county development budgets have spurred further economic growth.
Investment in the construction industry is likely to remain robust against a background of stable interest rates coupled with the ongoing government infrastructure projects and the private sector's resilient participation especially in real estate development.
