Kenya’s economic fortunes tied to political settlement
10 days ago, 21:01
A peaceful settlement of Kenya’s political impasse will determine the country’s economic fortunes in the near and medium terms, the World Bank said on Thursday.
The bank announced this as it downgraded its 2017 growth forecast to below five percent.
A slowdown in credit growth coupled with a prolonged political season that saw the country go to its first ever repeat presidential election hurt activity in key sectors such as agriculture, manufacturing and trade – and forcing the Treasury to downgrade its growth forecast to 5.1 per cent from 5.9 per cent previously.
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