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Kenyan Economy Overtakes Ghana’s On Revision of Data

New figure now accounts for mobile transactions and informal business arrangements

The Kenya statistics agency has revamped the way it calculates GDP to better reflect the state of the country’s economy. This has lead to an increase of 25% of the GDP to $55.2bn last year.

Zachary Mwangi, acting Director-General of the agency, reported the increases to reporters in Nairobi this week. Kenya will now be seen as a larger economy than either Ghana or Tunisia which generate $48bn and $47bn respectively (based on World Bank estimates).

According to Bloomberg News this higher GDP figure will allow Kenya to borrow more at a lower rate. Which could mean Kenya’s prospects as an investment is looking more attractive.

Nigeria has already re-gauged its GDP figure this year, increasing it to $500bn, thus overtaking South Africa as the continent’s largest economy.

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