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Browsing: Kenya’s 2024 GDP growth
- The World Bank attributes the downgrade to the recent conflict in the Middle East, which has heightened geopolitical risks and raised uncertainty in commodity markets.
- Growth for Sub-Saharan Africa is projected to accelerate to 3.8 per cent in 2024 and firm further to 4.1 per cent next year.
- The lender has upgraded Kenya’s GDP growth to 5.2 per cent due to easing inflation.
Global growth is projected to slow for the third consecutive year, decreasing from 2.6 per cent last year to 2.4 per cent this year, according to the World Bank.
In its January 2024 Global Economic Prospects report, the lender states that following a sharp slowdown in 2022 and a further decline last year, global output growth is set to decrease slightly this year.
This is occurring as global economic activity continues to soften due to the impacts of tight monetary policies, restrictive financial conditions, and weak growth …