A KCB banking hall. The Central Bank Rate is having a negative impact on the economy as commercial institutions opt for safe lending options mainly in government securities. FILE PHOTO | NATION
Kenya’s prospects for better economic growth appear dim as they are bound to be overshadowed by a credit squeeze, ballooning public debt and rising oil prices, a top economist has warned.
Already, 2017 was a tough year when the country’s GDP plummeted to 4.5 per from 5.8 per cent in 2016, due to severe drought and a prolonged electioneering period. This has further dimmed any hopes for growth this year.
