Kenya's Q1 2016 GDP growth improves, buoyed by tourism

Kenya ‘s economy expanded by 5.9 percent in the first quarter of 2016 compared to 5 percent in the same period last year.

Kenya's economy grew by 5.9% Q1https://t.co/g9TRwydMte
08-FEB-2016 Kenya and East Africa on The Up https://t.co/cIAmnrE4aF

— Aly-Khan Satchu (@alykhansatchu) June 30, 2016

According to the country’s bureau of statistics, the growth is attributed to a rebound in the tourism sector.

Tourism is a key foreign exchange earner but has plunged in recent years following a spate of security incidents that kept visitors away from the country.

Data from the statistics office further indicated that all sectors of the economy recorded a healthy performance during the quarter in review.

However, inflation rose to average at 7.0 percent during the quarter compared to 5.8 percent in the same quarter last year.

The current growth level is only second to that recorded in the first quarter of 2011, when the economy grew by 7.6 percent.

The office was quick to note that the fall in international oil prices continued to support improvement in the country’s current account deficit.