Erratic rainfall incoming months is likely to hurt Kenya's economic growth, Central Bank of Kenya said yesterday. Nonetheless, respondents in the MPC’s Private Sector Market Perceptions Survey, CEOs Survey, and the Survey of Hotels, were optimistic about economic growth prospects for 2021, citing vaccinations and easing of Covid-19 containment measures. According to CBK, there is great recovery in almost all economic sectors which has seen borrowers start meeting their debt obligations. According the apex bank, the rate of non performing loans dropped decimally to 14 per cent compared to 14.2 per cent in May. Strong credit growth was observed manufacturing (8.1 per cent),transport and communications (11.8 per cent), and consumer durables (23.4 per cent).

Source: The Star July 30, 2021 00:56 UTC