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Home Global Markets

IMF: Kenya’s economic growth forecast for 2019/20 to be lower.

The Trading Room by The Trading Room
in Global Markets, Investments
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International Monetary Fund (IMF)

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Kenya’s economy is expected to expand by 5.6% this year and 6.0% in 2020, the International Monetary Fund said on Tuesday, lowering its forecasts from earlier this year which was a growth of 5.8% for 2019, and 5.9% for next year. IMF did not however say what was behind the lower projections in its latest World Economic Outlook.

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The IMF’s latest forecast is also lower than that of the Kenyan government which the Cabinet Secretary Finance forecast the economy would grow by 6.0% this year after a 6.3% growth in 2018 based on data from the Kenya National Bureau of Statistics which showed the economy grew by 5.6% in the second quarter of this year, down from 6.4% in the same period a year earlier.

Source: Reuters.

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