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Economic growth to rebound in 2018, Rotich says

Treasury secretary Henry Rotich. FILE PHOTO | NMG
Treasury secretary Henry Rotich. FILE PHOTO | NMG 

Kenya’s economy should rebound in 2018 after a slowdown this year that was caused by drought and political turmoil during a prolonged election cycle, Treasury Secretary Henry Rotich said on Tuesday.

Economic growth is forecast to rise to more than 6 per cent next year and to move towards 7 per cent in the medium term, Rotich said.

He had earlier trimmed the 2017 forecast to 5 per cent from a previous projection of 5.5 per cent, which itself was a reduction from 5.9 per cent.

The economy grew 5 per cent in the first half of the year, the government said, falling short of its full-year forecast.