Kenya’s economy is expected to grow at between five and 5.6 per cent in 2017, supported by increased government spending and resilient performance in transport, trade and tourism. Britam Asset Managers yesterday said unfavourable weather, subdued credit growth, but underscored soaring macro space will remain a risk to the country’s growth. The government must, therefore, spend to sustain gross domestic product growth above 5.0 per cent in 2017. We expect GDP growth of five per cent – 5.6 per cent in 2017,” Britam Asset Managers chief executive Kenneth Kaniu said at a media briefing. The Central Bank on Monday downgraded its growth forecast to 5.7 per cent in 2017 from 5.9 per cent last year, citing uncertainties in the economy amid a ravaging drought.

Source: The Star February 02, 2017 23:03 UTC