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Kenya's Economy To Rebound in 2021 Featured

Kenya's economy is expected to bounce next year (2021), the World Bank said on Wednesday, as it emerges from a projected decline in the output of this year caused by the coronavirus crisis.

East Africa’s biggest economy is expected to contract by 1.0-1.5 percent this year (2020) as the pandemic takes it toll and pushes 2 million people into poverty the world bank said in the report.

The government forecast a 6.4% growth.

The world bank said its forecast for growth in 2021 still faced significant risks due to the uncertainty around the length and severity of the pandemic, unpredictable weather conditions and the pace of the global economic recovery. 

Kenya Finance Minister Ukur Yatani added that Kenya planned to make a final decision about joining the G20’s Debt Service Suspension Initiative that is aimed at helping poor countries weather the pandemic. 

 

 

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Last modified on Saturday, 09 January 2021 20:50

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