Economic Survey 1988

The aggregate economic performance in Kenya is partly dependent on the general level of activity in the international economy, especially changes in external demand for the country's principal export commodities (e.g. coffee and tea). In this regard Kenya's export activity is envisaged to remain sluggish in 1988. Some slowdown of growth in the industrial countries is expected in 1988. The decline in financial assets resulting from the unexpected fall of prices in the world stock markets is likely to weaken economic activity of the Western countries, leading to some decline in production. Thus aggregate output in OECD countries is expected to register a low growth rate of about 2 per cent in 1988.