NAIROBI, Dec 8 – The World Bank has cut Kenya’s economic growth forecast for this year to 4.3 percent from its earlier forecast of 4.8 percent due to a sharp jump in prices and instability in the exchange rate among other economic shocks, it said on Thursday.
The bank also said growth could rise to 5 percent next year and 5.5 percent in 2013, but this would depend on whether Kenya can navigate this year’s economic crisis caused by inflation and a weaker shilling, as well as have peaceful elections in 2012.
Separately, Kenya’s Planning Minister Wycliffe Oparanya said Kenya’s economy is seen growing by between 4.5 to 5.0 percent this year, higher than the 4.0 percent previously thought.
Source: Reuters Africa newsletter
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