World Bank downgrades Kenya's growth to 5.5pc

[kilam]

By Dominic Omondi | Updated Wed, April 12th 2017 at 00:00 GMT +3

The global lender cited the ongoing drought, weak credit growth and the rise in global oil prices as the main reasons for climbing down from its earlier forecast on Gross Domestic Product (GDP) of 5.6 per cent it made last year.

“Given headwinds from the ongoing drought, weak credit growth and the pick-up in oil prices, GDP growth is expected to decelerate to 5.5 per cent in 2017, a 0.5 percentage point mark down from earlier forecasts,” said the World Bank in its latest Kenya Economic Update.

The Bretton Woods institution’s sentiments were echoed by Genghis Capital. In its 2017 Playbook, the investment bank also projected a slower growth in 2017 due to the general election jitters, prolonged drought and the after-effects of the interest rates cap legislation.

The economy is expected to expand by between 4.75 per cent and 5.25 per cent this year with agriculture, manufacturing and transport emerging as the top three largest contributors of growth.

World Bank downgrades Kenya's growth to 5.5pc

 

[Geza Ulole]

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nomasana, sam999, NairobiWalker, hbuyosh, msemakweli, simplemind, Kimweri, Bulldog, MK254, Kafrican, Ngongo, Ab_Titchaz, mtanganyika mpya, JokaKuu, Ngongo, Askari Kanzu, Dhuks, Yule-Msee, waltham, Mzee, mombasite gabriel, Juakali1980, Boda254, mwaswast, MwendaOmo, Iconoclastes, oneflash, Kambalanick, 1 Africa, saadeque, burukenge, nyangau mkenya, Teen-Upperhill Nairobi, kadoda11

 

[kilam]

CC:

nomasana, sam999, NairobiWalker, hbuyosh, msemakweli, simplemind, Kimweri, Bulldog, MK254, Kafrican, Ngongo, Ab_Titchaz, mtanganyika mpya, JokaKuu, Ngongo, Askari Kanzu, Dhuks, Yule-Msee, waltham, Mzee, mombasite gabriel, Juakali1980, Boda254, mwaswast, MwendaOmo, Iconoclastes, oneflash, Kambalanick, 1 Africa, saadeque, burukenge, nyangau mkenya, Teen-Upperhill Nairobi, kadoda11

Jana ulivyowaambia walikubishia.

 

[Geza Ulole]

Jana ulivyowaambia walikubishia.

Wanabisha out of ego

 

[eliakeem]

Shida wakiona bongo yetu ina paa ndo wanaugua kabisa.

 

[Jay456watt]

dont forget this pia
World Bank: Tanzania’s economic growth slowed by policy uncertainty, credit squeeze
Read more at: World Bank: Tanzania’s economic growth slowed by policy uncertainty, credit squeeze
kweli nyani haoni kundule

 

[Gitimu Peter]

I expected the growth to slow down a bit. Given the prolonged drought, and the increasing political temperatures.

 

[Jay456watt]

I expected the growth to slow down a bit. Given the prolonged drought, and the increasing political temperatures.

definitely i also thought it would go further down...5.5 is not bad given that we are in an election year where things tend to slow down a bit and investors hold on to their money in order for the 'dust cloud' to pass so to speak

 

[Mhe McAmacy]

Shida wakiona bongo yetu ina paa ndo wanaugua kabisa.

look who's talking.
Nyinyi ama sisi? maanake kila siku humu jf nyinyi huwa na tabia za kiwivuwivu hivi.
mkiona tu habari za tanzia au zingine kama hizi, uzi utafika ukurasa wa hamsini and still counting.............ila mkisoma tu Kenya invests/acquires/develops/+ve growth mnapita kimya kimya ama mnakuja na kejeli za sungura aliyekosa zabibu.