Kenya’s economic prospects for 2012 bleak
16 May 2012, 10:35
Nairobi - High interest rates and anxiety as the next General Election approaches have been cited as key hinderances to the growth of Kenya's economy as the government now projects it to rise by a mere percentage point from last year’s 4.4 percent.
Speaking to Capital News, while launching The Economic Survey 2012, Planning Minister Wycliffe Oparanya attributed the drop to, among other things, a dip in most of the key economic sectors due to high oil prices, inflation and depreciation of the shilling.
All the major sectors currently driving the economy decelerated in growth including the financial sector which went down to 7.8 percent from nine percent in 2010, wholesale and retail dropping to 7.3 from eight percent previously, transport and communication 4.6 from 6.9 in 2010 and education declining to 4.5 percent from 4.9 percent.
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