Kenya: Growth outpaces that of neighbours

Published Mar 6, 2015

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Kenya was due to become one of the fastest-growing economies in east Africa, with a growth forecast of 6 percent in 2015 and 6.6 percent in 2016, the World Bank said yesterday, citing falling oil prices and bigger infrastructure investments. Kenya’s economy grew by an estimated 5.4 percent in 2014, the bank said in its latest economic update, while growth could accelerate to 7 percent in 2017. “After growing an estimated 5.4 percent in 2014, its economy is poised to be among the fastest growing in the region,” the report said. But the bank also said that Kenya’s exports growth had been lagging that of imports, and urged the country to support the manufacturing sector to boost exports.

Analysts say the east African nation has struggled to achieve its full growth potential in recent years. – Reuters

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