Kenya’s economic growth stabilised in the second quarter due to a slowdown in inflation (persistent rise of prices) and a decline in interest rates.
According to a statement by the Kenya National Bureau of Statistics, the period ranging from April to June 2015 had an expanded Gross Domestic Growth (GDP) of 5.5 per cent, down from 6 percent in 2014.
“This surge can be attributed to growth in the agricultural sector, which benefited from the rains during the period under review,” reads the statement.
The sector experienced a surge of of 5.4 per cent in the second quarter of 2015, up from 2.1 per cent during a similar period the previous year.
This reaffirms the place of agriculture in Kenya’s economy as stated in the country’s long-term development document Vision 2030.
Other economic sectors that benefited from the increased rains include Electricity and Water, which experienced a 10.2 per cent growth up from 4.6 per cent last year.