World Bank downgrades Kenya's growth to 5 percent

The National Treasury building in Nairobi. PHOTO | NMG

The World Bank has downgraded Kenya’s 2023 growth outlook to 5 percent amid concerns over increased commodity prices including fuel and the effects of an ongoing drought.

The Bank had earlier projected the country’s growth at 5.5 percent but the prospects have been dampened by high inflation rates and food insecurity that has hit the Horn of Africa.