Kenya to See 6% Growth in 2017

The Kenyan economy will grow by 6% this year and stay steady at 6.1% over the next two years, according to the latest World Bank Global Economic Prospects report released this week, Yahoo reported. Kenya’s projected growth rates are above those of Uganda, which will vary between 5.6% and 6% over the next three years, but below Tanzania’s at over 7%, and considerably below East Africa’s star performer Ethiopia at under 9%. The East Africa region as a whole will continue to see some of the fastest growth rates over the next three years, the report said. A key factor in Kenya’s success has been currency stability, which has helped keep inflation under control and within the target range of the central bank. This has resulted in lowering interest rates for the economy, the report added. But the report also warned that the government’s deficit remained high in Kenya and had widened in Uganda and Ethiopia.