Kenya’s economy recorded a modest growth of 4.7 per cent in 2013 compared to 4.6 per cent a year earlier.

Devolution and Planning Cabinet Secretary Anne Waiguru on Tuesday attributed growth to low and stable inflation supported by improved supply of basic foods and lower global fuel prices.

She said performance was also buoyed by robust economic environment in both the East and Sub-Saharan regions of Africa during the year.

“Growth in Sub-Saharan Africa and the East African Community (EAC) remained relatively robust with real GDP estimated to have expanded by 5.0 and 6.1 per cent, respectively in 2013. This was due to an increase in trade and investment with emerging market economies,” said Ms Waiguru during at the release of the 2014 Economic Survey Report in Nairobi.

Annual average inflation decreased from 9.4 per cent in 2012 to 5.7 per cent last year.

The figures show that Kenya‘s economy bore the brunt of depressed rains that affected the agriculture sector, declining exports worsening the trade balance, comparably higher interest rates crowding out private sector investment, reduced spending by government agencies, and insecurity concerns in the country.

Agriculture and forestry accounted for 25.3 per cent of the GDP in 2013, up from 24.6 per cent in 2012, despite the agricultural sector shrinking to 2.9 per cent last year from 4.2 per cent.

The Cabinet Secretary said key policy interventions have been put in place to spur growth especially in the agriculture, tourism and trade sectors.

“The government will continue to improve on security measures, diversify and intensify efforts to attract visitors particularly from emerging economies such as China, India, Middle East and Brazil amongst others,” she said.