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Euro crisis, commodities hurt Kenya growth – WB

09 December 2011, 10:47

NAIROBI, Kenya, Dec 8th – The deepening Euro zone crisis and upcoming general elections could usher a period of economic uncertainty for Kenya in 2012 with the World Bank (WB) predicting a growth rate as low as 3.1 percent.

According to the WB Kenya Economic Update report launched on Thursday, if risks are not managed and price and currency controls are avoided to ease macroeconomic pressures, a slowdown in economic growth for 2012 is inevitable.

“Kenya has the capacity to navigate this storm reasonably well although it is in a weaker position than it was during the storm of 2009/2010. We believe the present storm will lower growth for 2011 and possibly for 2012,” WB Country Director for Kenya Johannes Zutt said.

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