Kenya's economic growth to slow to 5pc in 2024, World Bank says

 Traders at Wakulima Market in Nakuru, Kenya go about their business in a murky ground on April 15, 2024. PHOTO | BONIFACE MWANGI | NMG

Kenya's economic growth is projected to slow to 5 percent in 2024 from 5.6 percent in 2023, the World Bank said in a new report released on Wednesday.

According to the 29th edition of the Kenya Economic Update, ongoing fiscal consolidation efforts, tight monetary policy, and fading tailwinds from the agricultural rebound are expected to slow down gross domestic product (GDP) this year.