International Monetary Fund (IMF)

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

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.

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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