Kenya’s economic prospects are improving, with key indicators showing resilience and continued recovery, according to top officials at the National Treasury. Speaking at a press conference at the Treasury Buildings on Thursday 13th, National Treasury Principal Secretary Dr. Chris Kiptoo expressed confidence that the country has overcome some of its most challenging economic periods and is now on a steady path to growth.
“As a team that has been at the National Treasury for the last more than two years, we have come out of the worst,” Dr. Kiptoo stated. “The progress that the CS has indicated is something we continue to see. In fact, this year we have started very well.”
Dr. Kiptoo highlighted Kenya’s strong GDP performance, emphasizing that the country remains one of the fastest-growing economies globally.
“We have seen KRA [Kenya Revenue Authority] doing well, and our GDP remains one of the highest in the world. The global growth rate is around 3%, sub-Saharan Africa is at approximately 3.7%, while Kenya’s stands at about 5%,” he noted.
This growth is largely attributed to sustained government policies aimed at economic stability, increased revenue collection, and resilience in key sectors such as agriculture, services, and manufacturing.
The Ministry of National Treasury and Economic Planning remains optimistic that the economic situation will continue to improve. With improved revenue collection, better fiscal management, and increasing foreign direct investments, officials believe that Kenya is on track to achieve stronger economic stability.
The government’s commitment to supporting businesses, enhancing infrastructure development, and fostering economic reforms is expected to further boost investor confidence. Additionally, Kenya’s rising diaspora remittances, which hit a record $4.87 billion in 2024, are playing a crucial role in supporting the economy.
As the country moves forward, Treasury officials remain hopeful that Kenya’s economic trajectory will continue a positive path, with the promise of even better growth in the coming years.
