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Strong shilling hurting economy, says World Bank
Workers pluck tea leaves in Nandi Hills. World Bank says that the shilling has been supported more by foreign capital inflows, rather than exports. FILE
A steady inflow of investors’ dollars in the past 10 years has strengthened the shilling but it has also exposed the economy to external shocks while making exports more expensive, the World Bank has said.
An analysis by the Bank shows that the Kenyan shilling has gained by more than 34 per cent in real terms over the past decade.
