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World Bank Sees Kenya Economy Slowing as Fuel Costs Hit Recovery

  • Lender says economic growth may slow to 5.5% this year
  • Kenya pays subsidies as Russia’s war raises commodity prices
Kenya is spending about $66 million a month on fuel subsidies.

Kenya is spending about $66 million a month on fuel subsidies.

Photographer: Simon Maina/AFP/Getty Images

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Fuel subsidies are hurting Kenya’s revenue recovery, the World Bank said as it forecast the nation’s economic growth will slow this year partly because of increased commodity prices.