IMF, World Bank cautious about Kenya’s economic growth
The Ngong tunnel on the Nairobi-Naivasha standard gauge railway. Large infrastructure projects have resulted in weak domestic savings. FILE PHOTO | SALATON NJAU |
Kenya’s economic growth prospects have been dimmed by uncertainties related to this year’s general election, interest rate controls, shortfalls in revenue collection, and a ballooning public debt.
Although government data has painted a rosy picture of the economic performance over the nine months to September 2016, the International Monetary Fund and the World Bank are cautious about the country’s growth prospects as banks shun lending to the private sector in a controlled interest rate environment.
