Kenya's GDP growth slows to 4.7% in 2024, affected by tighter policies and recent floods.

Kenya's projected GDP growth for 2024 is 4.7%, slower than last year's 5.6% and closer to its pre-pandemic average. The slowdown is due to a tighter macroeconomic policy, low business confidence, and the impact of recent floods. The agricultural and services sectors are slowing down, and the construction sector is weakening. The World Bank urges Kenya to focus on reforms to improve governance, reduce corruption, and empower women economically to foster inclusive growth and manage debt risks.

3 months ago
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