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Economy to fare better after elections than post-2008 vote

Police disperse protestors at the Kondele roundabout on October 26, 2017. Photo | Ondari Ogega | NMG
Police disperse protestors at the Kondele roundabout on October 26, 2017. Photo | Ondari Ogega | NMG 

Kenya’s economy has weathered the election storm better than it did a decade ago, a Reuters poll of economists suggested, and they expect investment to pick up next year if calm returns to the country soon.

On Monday, President Uhuru Kenyatta was declared winner of a repeat election after the result from two months ago was disputed, handing a second term to the son of the country’s founding father, the late Jomo Kenyatta.

“The drawn out polls have dampened economic activity and would likely weigh on fourth-quarter GDP growth,” said Rafiq Raji, chief economist at Macroafricaintel in Lagos.

Eight of ten analysts surveyed in the past two days said the elections would only have a slightly negative impact on growth this year and next.

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