World Economic Forum forecasts another recession

However, Murigi notes that the ongoing infrastructural investment in roads repair and expansion and power generation from more dependable sources such as geothermal will provide the economy with a better business environment which will eventually lower the cost of doing business.

Strong foundation

“These huge capex infrastructural projects will enhance Kenya as a business driven economy unlike the current situation where its factor driven hence anchoring the economy in stronger foundation to weather future storms“.

Emerging sectors driving the economy include real estate and construction, transport and communication, information communication and technology (ICT), services such as financial and wholesale and retail trade.

“The biggest risks facing the world today may be from slow failures or creeping risks and because they emerge over a long period of time, their potentially enormous impact and long-term implications can be vastly underestimated”, said Mr.Schwab.

This year’s report explores a set of risks that share a potential for wider systemic impact and are strongly linked to a number of significant, long-term trends.

The risks that feature highly on the Global Risks Landscape and which predated the recession but have been exacerbated by its impact through greater resources constraints.