Economics
Kenya Economy Grows at Slowest Pace Since 2017 as Virus Hits
- Gross domestic product grew 4.9% three months through March
- IMF forecasts economy will contract first time in 27 years
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Kenya’s economic growth slowed to an almost three-year low in the first quarter as the coronavirus pandemic took a toll.
Gross domestic product expanded by 4.9% in the three months through March from a year earlier, compared with 5.5% in the previous quarter, the Kenya National Bureau of Statistics said Tuesday. The median of six economists’ estimates in a Bloomberg survey was 4.3%. The economy grew 1.1% quarter-on-quarter.