KTN Prime: World Bank on Economy
Added on June 18, 2012
Kenya's economy will grow 5 percent this year and next but additional external shocks would place East Africa's biggest economy under severe stress, the World Bank said on Monday. In a report, the Bank says in the absence of economic and social turbulence, Kenya's economy should grow at 5 percent in 2012 and 2013, which would still be substantially below regional counterparts. The Bank adds that Kenya's external position is vulnerable to shocks as the current account deficit has soared, forecasting the deficit could reach 15 percent of gross domestic product this year, among the significant risk to Kenya's economic stability includes a sharp rise in oil prices.
Last Modified: 18 Jun 2012 22:35
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