Vision 2030 - Economic Pillar

Economic Pillar

This aims to improve the prosperity of all Kenyans through an economic development programme, covering all the regions of Kenya. It aims to achieve an average Gross Domestic Product (GDP) growth rate of 10% per annum beginning in 2012. To achieve this target, Kenya is continuing with the tradition of macro-economic stability that has been established since 2002. It is also addressing other key constraints, notably, a low savings to GDP ratio, which can be alleviated by drawing in more remittances from Kenyans abroad, as well as increased foreign investment and overseas development assistance (ODA).

Delivering the country’s ambitious growth aspirations required a rise of national savings from 17% in 2006 to about 30% in 2012. It was also found necessary to deal with a significant informal economy employing 75% of the country’s workers. The informal sector is being supported in ways that will raise productivity and distribution and increase jobs, owner’s incomes and public revenues. The country is continuing with the governance and institutional reforms necessary to accelerate economic growth. Others critical problems being addressed include poor infrastructure and high energy costs. The six key sectors described below are being given priority as the key growth drivers for achievement of the economic vision:

• Tourism
• Increasing value in Agriculture
• A better and more inclusive wholesale and retail trade sector
• Manufacturing for the regional market
• BPO
• Financial Services