Africa

World Bank Cuts Kenya’s Growth Forecast to 4.7%

today11 December, 2024

Background

CNBCAfrica says the World Bank on revised Kenya’s 2024 economic growth projection down to 4.7% from an earlier estimate of 5.0%, attributing the downgrade to the effects of floods, anti-government protests, and sluggish fiscal reforms on Tuesday. Despite progress in stabilizing the exchange rate, increasing central bank reserves, and reducing inflation, Kenya remains at a high risk of debt distress, according to the bank’s latest report.

Written by: Leonard Witbeen

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