Growth figures split experts

Treasury Building. FILE PHOTO | NMG

What you need to know:

  • The crippling effect of drought, political tensions and the law capping loan charges by commercial banks pulled down growth in 2017 to estimated 4.7-4.8 per cent, the lowest since 2012.
  • With easing political tension after a bruising presidential contest, which saw a historic repeat of presidential poll that incumbent President Uhuru Kenyatta comfortably won after main Opposition candidate Raila Odinga boycotted citing inadequate electoral reforms, most economists see growth jump above five  per cent in 2018.
  • Forecasts by 18 firms suggest that Kenya’s economy is likely to expand by an average of 5.46 per cent this year.
  • The Central Bank of Kenya has projected the highest growth of up to 6.2 per cent while economists at Standard Chartered Bank are isolated with a forecast of below five per cent.

Economists are divided over the extent to which economic activities will recover from last year’s slowdown, largely because of uncertainties over agricultural production and growth in loans to the private sector.

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