Kenya Vision 2030 continues to guide the country’s long-term development agenda, targeting transformation into a globally competitive and prosperous upper-middle-income economy by 2030. Implementation under the Fourth Medium-Term Plan (MTP IV: 2023 2027), aligned with the Bottom-Up Economic Transformation Agenda (BETA), emphasises inclusive growth, job creation, and resilience. During FY 2024/25, Kenya’s economy demonstrated resilience despite emerging challenges. Real Gross Domestic Product (GDP) growth slowed to 4.7 percent in 2024 from 5.7 percent in 2023, reflecting sectoral deceleration, tight credit conditions, and external shocks. Nonetheless, macroeconomic stability improved, with inflation easing to 4.5 percent from 7.7 percent, supported by lower food prices and exchange rate stabilisation. Nominal GDP expanded to KSh 16.22 trillion, underpinned by agriculture and services, which remain dominant drivers of economic activity.

Progress Report for FY2024-25 - final c