Kenya’s Economic Survey Report 2015 is set to be released at the end of April by the Devolution Cabinet Secretary Anne Waiguru. This report is set to release details on the sectors of the Kenyan economy that are doing well or decline alongside with recommendations of reforms and changes that need to be done to bolster the economy.
The Kenya’s Economic Survey Report 2015 will review the economy’s progress that had been projected from the last years report. The report will so give a clear analysis of areas in the economy that require reforms.
Last year’s report indicated that the major drivers of Kenya’s economy were wholesale and retail sectors followed closely by financial intermediation sector and the agricultural sectors was the least productive.
Some of the sectors that have seen tremendous growth and productivity include the communications sectors which have seen the number of mobile connections shoot from 30.4 million in 2012 to 31.2 million in 2013.
The employment sector has steadily recorded an upward trend with at least 742,000 jobs created in the past year. This can be attributed to both the formal and informal jobs especially generated by the numerous projects initiated by the central and county governments.
Despite the slow slump in the tourism sector there is hope for the sector after the world Tourism body dismissed the travel advisories on the East African countries. The slump had been caused by the terror attacks which are project to reduce due to the security measure put up by the Kenyan government.
The Agricultural sector in the past year has deteriorated due to inadequate rainfall which most farmers are reliant upon. However, an irrigation scheme and other dam projects are set to increase the food security of the nation and at the same increase the income from the export of agricultural products.
Other expectations in the coming year are the total revenue expected to be over 1 trillion shillings. The counties contribution to the national economy is expected to be felt as well as an input from the various infrastructure projects both by the government and private entities.
The Kenya’s Economic Survey Report 2015 is expected to also show the steps that are being put in place to ensure that the projected growth of the East African country as the third fastest growing economy globally is maintained. The report will also offer investors and lay people an indication towards what sectors they can invest in.