Key Findings and Recommendations from the Kenya Economic Survey 2024: Promoting Sustainable and Inclusive Economic Growth

The Kenya Economic Survey 2024 Report has shed light on the country’s economic performance, highlighting both progress and challenges in various sectors. One key area of focus is the potential for growth through exports to the East African Community (EAC) bloc. Regional trade partnerships have been identified as a key driver for boosting intra-regional trade growth and diversifying export items and markets.

While Kenya has made significant gains in areas such as exports, regional trade, and the current account balance, challenges such as fluctuations in international trade and currency depreciation against major trading partners have been identified. These challenges can impact export earnings and overall economic stability, highlighting the need for targeted policies to address them.

The report also emphasizes the importance of investing in key sectors such as education, health, and infrastructure. Increased government expenditure in education and health reflects a commitment to human capital development and healthcare services, essential for driving long-term economic growth and improving overall well-being.

Infrastructure development is also crucial for economic growth, as investments in roads, bridges, and energy facilities can improve connectivity, facilitate trade, and attract investments. These investments not only boost productivity and reduce transportation costs but also stimulate economic activities across various sectors, fostering inclusive growth and development.

To support sustainable development and inclusive growth, the report recommends promoting export diversification, enhancing trade policies, investing in value-added industries, and supporting small businesses. Addressing import dependency for essential commodities like wheat and rice through strategies that promote local production is also crucial for improving the trade balance and enhancing economic resilience.

Overall, the report underscores the importance of fostering sustainable and inclusive economic growth in Kenya through targeted policies and investments in key sectors. By addressing challenges and seizing opportunities for growth, Kenya can achieve its long-term development goals and promote economic prosperity for all its citizens.