NAIROBI (Reuters) – Kenya’s economy grew 4.8% in 2022, down from 7.6% a year earlier, as a severe drought hurt agricultural output, the statistics office said on Wednesday.
Like other countries in East Africa, Kenya is emerging from the worst drought in four decades that has pushed up the price of basic commodities.
It is also feeling the effects of a weaker local currency and increased public debt load.
The Kenya National Bureau of Statistics (KNBS) said in its 2023 Economic Survey that Agriculture, Forestry and Fishing contracted 1.6% in 2022 from a 0.4% contraction a year earlier.
“This was attributed to drought conditions that characterised the period under review,” it said of the sector, which made up 21% of overall gross domestic product (GDP).
In September last year, the finance ministry forecast 2022 growth of 5.5%.
The KNBS said some of the key sectors that contributed to last year’s growth were financial and insurance, information and communication, and transportation and storage.
(Reporting by George Obulutsa; Editing by Alexander Winning)
