Nairobi, Nov 11 (IANS): Kenya's economy is expected to grow 5.3 per cent in 2022, down from 7.5 per cent posted in 2021, a government official said.
Njuguna Ndung'u, Cabinet Secretary for the National Treasury and Economic Planning, said on Thursday that although the economy has demonstrated some kind of resilience and recovery from the Covid-19 shocks, its growth rate is expected to slow this year, Xinhua news agency reported.
"The slowdown in growth is on account of the worst drought in the last 40 years and the impact of the Ukraine-Russia conflict," Ndung'u said in the Kenyan capital Nairobi during the launch of the 2023/24 financial year and medium-term budget preparation process.
The Kenyan official observed that the robust pace of economic recovery in 2021 has been derailed by the worsening drought which has affected more than 20 counties in the East African nation.