Kenya needs to invest Sh1.7trn yearly to hit 10pc GDP growth: Rotich
Treasury Cabinet Secretary Henry Rotich in Nairobi on June 30, 2015. Kenya needs to make investments worth Sh1.7 trillion each year if the country is to attain growth rates of over 10 per cent annually. PHOTO | JOSHUA MASINDE |
What you need to know:
- Such investments, equivalent to 32 per cent of the country’s GDP would be channelled to critical sectors in energy and infrastructure development.
Kenya needs to make investments worth Sh1.7 trillion each year if the country is to attain growth rates of over 10 per cent annually, National Treasury Cabinet Secretary, Henry Rotich has said.
Such investments, equivalent to 32 per cent of the country’s GDP would be channelled to critical sectors in energy and infrastructure development.
“We need investment level of about 32 per cent of GDP for us to achieve a 10 per cent growth. Mobilisation of savings to that level is very critical that is why we are emphasizing the financial sector to contribute to raising of these savings for the investment needs that we require in our economy to double digit growth,” Mr Rotich said in Nairobi on Tuesday.
Kenya's economy has been growing at a lacklustre 4 to 5 per cent in the recent years hovering around the African average of 4.5 per cent.
The most impressive growth was 7 per cent in 2007 during the Kibaki administration. The Uhuru administration however promised an overdrive of over 10 per cent, which remains elusive to date.
