Uhuru says Kenya has risen from 12th to 6th wealthiest nation in Africa under his watch
President Uhuru Kenyatta now says Kenya's economy has grown at a higher rate under his administration compared to all the previous regimes including the colonial administration.
Speaking during his eighth State of the Nation Address in Parliament on Tuesday, President Kenyatta said since he took over the country's leadership in 2013, Kenya has risen from being ranked 12th wealthiest nation in Africa to 6th position.
"In 2013, Kenya was Africa’s 12th wealthiest nation with a GDP of Ksh.4.74 Trillion. This GDP was accumulated in a span of 123 years through the four administrations before ours," said Kenyatta.
He added: "But in just 8 years, My Administration has multiplied this GDP by a factor of two PLUS. Today, our GDP stands at Ksh.11 Trillion, up from Ksh.4.74 Trillion. From being ranked as the 12th wealthiest nation in Africa when I took over, we have moved six ranks to become the 6th wealthiest nation on the continent, on account of the choices we have made."
Kenyatta pointed out that in the second quarter of 2021, the country's GDP grew by 10.1% the first such growth in the history of our economy.
He said the notable contributors to this growth include the ICT sector, which grew by a significant 25.1% in the second quarter of 2021.
"In fact, the ICT sector is, projected to become a prime mover of our economic growth in years to come. Other sectors that contributed significantly to the real GDP growth in the reference quarter include the transport sector, which grew by 16.9%; and manufacturing, which grew by 9.6%," said the Head of State.
The President expressed confidence that the economic acceleration would continue on the recovery of the tourism industry which suffered the greatest beating from the COVID-19 pandemic.
"At the height of the COVID pandemic in 2020, this industry registered a negative growth of 63.5% in the third quarter of 2020. During the first quarter of 2021, this industry showed some improvements and contracted by 48.8%. But by the second quarter of 2021, this industry was on the path to recovery and had grown by 9.1% showing, a remarkable upturn," he said.
According to President Kenyatta, Kenya is projected to grow twice as fast as the sub-Saharan economies in the period 2021/2022.
In the State of the Nation Address, Kenyatta highlighted infrastructural development as indicators of the acceleration in achieving economic goals. He noted that his administration had doubled the road network across the entire Republic in addition to the construction of the Standard Gauge Railway which he described as the largest infrastructure project in a century.
The Head of State said that in 123 years the previous administrations constructed 11,200 Kilometres of tarmacked roads while in 8 years, the Jubilee government has built 10,500 Kilometers.
"In 8 years, My Administration has multiplied what the previous administrations had done by a factor of two. We have built 10,500 Kilometers of roads across the Republic by being 15 times faster than the previous administrations," he said.