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World Bank slashes Kenya's 2017 growth projection to 5.5pc
A farmer samples some of the maize that has withered in her farm at Gicheera village, Embu County on January 27, 2017: Drought conditions being prolonged beyond 2017 and security concerns during the elections remain critical domestic threats to the economy. FILE PHOTO | CHARLES WANYORO | NMG
The World Bank (WB) has once again downgraded Kenya’s projected economic growth rate to 5.5 per cent citing heavy headwinds for the country.
In its latest economic update released Wednesday, the global lender said drought, weak credit growth and higher oil prices will drag down growth in 2017 to below the earlier projection of 5.9 per cent made last year.
