World Bank cuts Kenya

The World Bank has cut its 2017 growth estimate for Kenya’s economy to 4.9 percent, which would be the slowest annual expansion in five years, due to drought, sluggish credit growth and a prolonged election season, it said on Thursday.

The lender had already cut its initial forecast by half a percentage point in April, to 5.5 percent, citing the severe drought in the first half and the drop in private sector growth.

The Kenyan economy has since been buffeted by political risks after the Supreme Court nullified an Aug. 8 election and ordered a re-run that was boycotted by the…

Source – Standard Media

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