The International Monetary Fund (IMF) has predicted that Kenya’s economy will slow down in 2017. This is because most investors will slow down as they wait for the elections to be conducted. This information was shared by Armando Morales who is IMF representative in Kenya.
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The representative was speaking to Reuters on the topic of Kenya’s economy. The Central Bank of Kenya has done a good job in strictly supervising the sector and ensuring that standards are followed. These efforts even lead to the closure of some of the financial institutions.
Towards the end of January, we are expecting to receive the economic growth forecast 2017 for Kenya and other countries.
Meanwhile in Kenya, the incumbent president Mr. Uhuru Kenyatta is seeking a second term in State house. The general elections will take place on 8th August, 2017. The fact that there was bloodshed after the 2007 elections makes many investors to take a backseat and wait for the outcome of the coming elections hence have a negative impact on Kenya’s economy.
In 2007 elections, a total of 1,250 people lost their lives and property worthy millions was either vandalized or burnt up in flames taking down a large portion of Kenya’s economy.
