December 14, 2006
KENYA: An Economic Snapshot
The economic gains Kenya achieved in the years following independence in 1963 have been greatly weakened in the last decade. For approximately three decades, growth rates had been positive and brisk, in excess of 4 percent per year. By 1990, GDP growth fell to 1.4 percent. From 1994-1996, Kenya sustained a growth rate of about 4 percent per year; but, in 2000 a prolonged drought, in combination with inadequate infrastructure, low agricultural productivity, poor export performance, and weak governance resulted in negative economic growth (IMF 2003). Since then, more favorable weather conditions and a return to previous levels of agricultural production have slightly improved the Kenyan economic performance, with recorded GDP growth rates of one percent in 2003.
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