Kenya could reach a middle income status in the next four years if the current growth rates are sustained, a new study has shown.
The United Nations Economic Commission for Africa (UNECA) forecasts that Kenya’s annual gross national product (GDP) per person will be $1,030 (Sh88,000) in 2016 against the threshold of $1,000 (Sh85,400) per capita used to categorise economies as middle income.
The study brings closer the reality the Vision 2030 aspirations of making Kenya a middle income economy.
A key assumption of the study is that a growth rate of at least 4.5 per cent, the projected rate for this year, will be maintained for the next four years.
In 2011, Kenya’s real GDP per capita was $830.5 (Sh71,000), having risen from $526 (Sh45,000) in 2005.
Kenya may reach middle income status by 2016 *- Politics and policy*|businessdailyafrica.co m