Kenya’s rebound from the economic turmoil occasioned by global COVID19 pandemic may take longer than earlier anticipated. According to the International Monetary Fund (IMF) World Economic Outlook, October 2020 Kenya’s economic growth rate for 2021 was revised downwards to 4.7 percent from an earlier projection of 6.1 percent.
IMF cites a second wave of covid19 saying it will hamper a smooth economic recovery due to disruption of business activity.
In a conference at the end of September, central bank governor Patrick Njoroge said that Kenya’s medium term growth will be anchored on the diversified economy. Kenya geography especially with the implementation of African Continental Free Trade Area (AfCFTA) will also drive growth in the medium term.