World Bank Sees Kenya’s Economy Growing 5% This Year
- Growth rate seen accelerating to 5.2% in 2024, 5.3% in 2025
- Poor rains, political tension identified as risks to outlook
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Kenya’s economy is projected to expand 5% this year as favorable weather conditions boost agricultural output, according to the World Bank.
The growth rate is expected to accelerate to 5.2% in 2024 and 5.3% the following year, driven by a decline in global commodity prices and robust private investment, the lender said in its Kenya Economic Update published on Wednesday. Gross domestic product expanded 4.8% last year, down from 7.5% in 2021.