Kenya’s economy grew faster than China, US in 2023- Ndindi Nyoro

Speaking on Wednesday at a Parliamentary Session on the 2024 Budget Policy Statement, Nyoro stated that the nation's GDP (gross domestic product) was expected to increase, with figures from global institutions such as the World Bank and IMF indicating the margins.

The lawmaker, who also chairs the National Assembly's Budgets and Appropriations Committee, went on to say that the GDP growth rate in the first, second, and third quarters of 2023 averaged 5.9%, which he claimed was higher than that of the United States and China.

He went on to say that the figures show Kenya as the 28th fastest growing economy in the world.

“Our economy in the year 2023 the first quarter of 2023, the GDP of Kenya grew by 5.5 %. In the second quarter of 2023, the GDP of Kenya grew by 5.5% and in the third quarter our economy, GDP grew by 5.9%,” he revealed.

“We are still compiling the figures for the entire year, but it is projected that the Kenyan GDP in 2023 actually grew by 5.6% which makes Kenya the 28th fastest growing economy in the world.”

He added: “The economy of Kenya in 2023 grew faster than the economy of China…in 2023, the Kenyan economy grew by many multiples actually than the economy of the United States of America.”

The lawmaker went on to attribute the economic growth to the good policies made by President William Ruto and the MPs in the current regime.

According to the MP, the legislation of the current regime is to thank for the immense economic growth.

“The economy grew not just by our standards as released by the Kenya National Bureau of Statistics but also the data released by international organizations and also Briton-owned organizations including IMF and World Bank,” he said.

“I want to thank this House for the good policies that we have put in place that are leading to accelerated economic growth in our country.”