On 9th April 2019, KEPSA participated in the launch of the 2019 Kenya Economic Update report by the World Bank Group at Norfolk the Fairmont Hotel, Nairobi. The report themed “Unbundling the Slack in Private Sector Investment: Transforming agriculture sector productivity and linkages to poverty reduction” indicated that the economy rebounded in 2018 and the estimated GDP growth was 5.8%.
Key macroeconomic indicators such as inflation, current account deficit, interest rates, and exchange rates remained favourable. The outlook for 2019 also remains stable but the current weather conditions may affect growth hence the projection was revised downwards to 5.7%.
Speaking during the meeting, the Principal Secretary for State Department of Agricultural Research, Prof. Hamadi Boga commended the World Bank for the update and reported that his Ministry had already completed developing an Agriculture Sector Transformation and Growth Strategy (ASTGS). The ASTGS would focus on addressing key challenges in the sector including smallholder productivity, decline in soil health due to overuse and acidity from fertilizers, seeds quality and access, extension services to capacity build farmers, reforming the NCPB, creating a Warehouse Receipt System among others.
Clear here to view the report.