Kenya’s economic growth in 2017 is likely to remain robust and will not be affected by presidential elections slated for Aug. 8, an analyst said on Wednesday.

South African based Sanlam Group Investment Economist, Arthur Kamp told a media briefing in Nairobi that Kenya has historically experienced economic slowdowns during election years.

“Kenya’s economies are exhibiting resilience ahead of the general elections with clear signs of a swift take off after the August polls,” Kamp said.

“Our projections is that the Gross Domestic Product (GDP) will grow as good as last year in the current year based on economic and governance reforms proposed by the respective presidential candidates and a solid foundation already set,” Kamp said.

Data from the Kenya National Bureau of Statistics Economic Survey 2017, indicates that the economy expanded by 5.8 percent in 2016 compared to a revised growth of 5.7 percent in 2015.

“In my estimation, Kenya’s GDP growth should remain amongst the leading economies in sub-Saharan Africa in the next three years if ongoing reforms as outlined in the Vision 2030 National development plan are maintained with zero tolerance for corruption and other investment limiting barriers,” he added.

The analyst noted that the local economy will continue to enjoy moderate growth in the medium term if Kenya continues pursuing productivity enhancing measures such as the Standard Gauge Railway projects in Kenya.

However, Kamp said that the envisaged growth will need to be anchored on a growth model that is focused on sound economic governance and human capital.

“A growth model, which does not depend on natural resource endowment helps to enhance investments in the capital markets among other economic prospects,” he added. Enditem

Source: Xinhua/