Treasury CS Henry Rotich further trims 2015 economic growth forecast

NAIROBI, KENYA: Treasury CS Henry Rotich further trims 2015 economic growth forecast to 5.8-6 percent cites el Nino weather effects and tighter monetary policy.

Kenya's finance minister trimmed the economic growth forecast for 2015 to between 5.8 percent and 6 percent on Wednesday, citing tighter monetary policy and the potential impact of the el Nino weather phenomenon that has brought some heavy rains.

The government had already downgraded its forecast to 6 percent in October from the 6.5 to 7 percent it had originally predicted for 2015.

Finance Minister Henry Rotich told a briefing government borrowing could be lower than expected and he was reviewing spending in fiscal 2015/2016, which ends in July. The deficit for 2015/16 has been forecast at 8.7 percent of gross domestic product.

Treasury CS Henry Rotich further downgrades economic growth forecast for 2015 to between 5.8- 6 percent, cites potential impact of the el Nino weather.