IMF projects economy to grow by 5.8pc

Nairobi; Kenya: The International Monetary Fund (IMF) expects the economy to grow by 5.8 per cent this financial year, up from 5 per cent last year, driven by higher domestic and external investment.

“The outlook is favorable,” the fund says in its latest assessment of Kenya’s economy. The IMF position is based on the fact that the government has embarked on large-scale projects such as the construction of the Mombasa-Nairobi railway, geothermal plants, irrigation projects, and new oil pipelines.