- Rising external debt costs and reduced investor confidence has led to a marginal cut in Kenya’s growth outlook for 2022.
- The outlook from 14 global banks, consultancies and think-tanks shows a decline of economic activities to 5.3 percent this year from 5.4 percent projection last month.
Rising external debt costs and reduced investor confidence has led to a marginal cut in Kenya’s growth outlook for 2022.The outlook from 14 global banks, consultancies and think-tanks shows a decline of economic activities to 5.3 percent this year from 5.4 percent projection last month.
The March forecast compiled by economists at Barcelona-based Focus Economics, observed that Kenya’s reliance on foreign capital for infrastructure and a rise in external debt has dampened its economic outlook .The growth is forecast to further slow down to 5.2 percent next year after the elections.
Analysts at Economist Intelligence Unit (EIU) also have estimated a decline of investor confidence in Kenya due to Political uncertainty over constitutional reforms and the upcoming elections.The US-owned Moody’s also had slashed Kenya’s growth outlook to 6.2 percent this month from 8.6 percent earlier though the US investment bank Goldman Sachs has upgraded growth to 5.3 percent from 5.2 percent last month.
