Kenya projects 7 pct economic growth by 2017
Kenya expects its economic growth to hit 7 percent by 2017, according to the National Treasury.
The institution notes that the East African nation's economy will grow steadily in the next three years before crossing the 7 percent mark in 2017.
"In terms of fiscal years, economic growth projections translate to 5.9 percent in 2013/2014, 6.3 percent in 2014/2015, 6.6 percent in 2015/2016 and 6.9 percent in 2016/2017," says the Treasury in its Budget Review and Outlook Paper for the first quarter of this financial year received Friday.
Some of the things within the country that will contribute to the growth include improved weather conditions, low inflation and stable exchange rates.
Wood carving in Kenya
Wood-carving is an industry that provides income to many households through trade of prized wooden artifacts.
It is estimated that over 6,000 wood carvers in Kenya are engaged in this business with over 250,000 people economically dependent on this growing trade
Kenya Economy to Grow to 5.6 Per Cent This Year
THE Kenyan economy is expected to rise to 5.6 per cent by the end of this financial year, National Treasury Secretary Henry Rotich has said.
Last year, the growth reached 4.6 per cent up from 1.6 per cent in the year 2008 after it went drastically due to the 2007 post election violence.
Dire Shortage Of Timber Forcing Merchants To Import Commodity
He reveals that the Kenya Forest Service (KFS) has generated plantation logging plans, and is in the process of completing an inventory that will establish the extent of forest plantations in Kenya.
This plan he says, may help increase the forest cover that currently stands at 312,500 acres that comprises 6 percent of the gazetted forests in the country.
