Kenya sees 2013 growth rising on strong farms output

NAIROBI (Reuters) - Kenya's economy will grow 5.6 percent in 2013, outperforming this year's forecast of 5.1 percent, as strong rains boosted output in the agricultural sector, the Finance Ministry said on Monday.

The ministry said in a budget review and outlook presentation that GDP growth was expected to pick up to 6.8 percent in fourth quarter 2012 from 6.4 percent in the third quarter, helped by a rebound in agriculture, construction, wholesale and retail.

"We expect growth of 5.6 percent (next year)... and we assume normal weather for the agricultural sector to do well," Henry Rotich, Finance Ministry's deputy director of economic affairs, told Reuters.

"A lot of infrastructure is now getting completed and we see that's going to improve private sector investments. Tourism we expect to improve with improved security, and the export region is picking up," said Rotich. The numbers of tourists visiting Kenya's coast dropped 22 percent in the first eight months of the year due to concerns over Islamist violence.

Kenya's economy grew 3.5 percent in the first quarter and 3.3 percent in the second quarter and higher farms output - agriculture, forestry and fishing account for 26.6 pct of Kenya's economy - would boost growth further, he said.

"Agricultural is a substantial component. In Q3 and Q4 is when we get growth through agriculture figures coming out and this year was extremely good with the weather, rains were very good. We see growth of 2010 numbers which was a normal year," Rotich said.

Source: http://news.yahoo.com/kenya-sees-2013-growth-rising-strong-farms-output-100952492--business.html

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