Browsing: Wolrd Bank

• The economy of Kenya will grow by 5.5 per cent in 2022 and 5.2 per cent on average in 2023–24
• Data by World Bank indicates that while still strong, the growth rate will be moderate following a remarkable recovery in 2021 from the worst economic effects of the pandemic
• The bank noted that the impact of the war in Ukraine is weighing on the global economic recovery from the pandemic

The World Bank has projected that Kenya’s real gross domestic product (GDP) will grow by 5.5 per cent in 2022 and 5.2 per cent on average in 2023–24.

According to the group, while still strong, the growth rate will be moderate following a remarkable recovery in 2021 from the worst economic effects of the pandemic.

During the period, the country’s economy grew by 7.5 per cent, much higher than the estimated average growth in Sub-Saharan Africa of 4 per cent.…