{"id":72355,"date":"2022-10-26T16:17:51","date_gmt":"2022-10-26T16:17:51","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3"},"modified":"2022-10-26T16:26:55","modified_gmt":"2022-10-26T16:26:55","slug":"imf-cuts-kenyas-economic-growth-to-5-3","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3","title":{"rendered":"IMF cuts Kenya\u2019s economic growth to 5.3%"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>The country\u2019s economic growth prospects to the end of this year has been projected to a slow of 5.3 per cent by the International Monetary Fund (IMF).<\/p>\n

This is down from last year\u2019s projection of 7.5 per cent.<\/p>\n

In its latest Regional Economic Outlook dubbed, Living on the edge\u2019, the lender attributes the slower growth to downturns in advanced economies and emerging markets.<\/p>\n

It also says tighter financial conditions and volatile commodity prices are a pain to growth.<\/p>\n

The lender adds that the slow growth is occasioned by rising food and energy prices that are striking at the country.<\/p>\n

\u201cPublic debt and inflation are at levels not seen in decades,\u201d the lender says.<\/p>\n

IMF projects further a slow down in Kenya’s economic growth of 5.1 per cent in 2023 amid the tightening economy.<\/p>\n

Uganda\u2019s economy is projected to grow by 4.4 per cent this year whereas Tanzania’s is projected at 4.5 per cent.<\/p>\n

Sub Saharan Africa\u2019s economy is expected to grow by 3.6 per cent this year, much slower compared to last year\u2019s growth of 4.7 per cent.<\/p>\n

\u201cLate last year, Sub Saharan Africa appeared to be on a strong recovery path out of a long pandemic. Unfortunately, this progress has been abruptly interrupted by turmoil in global markets, placing further pressures on policymakers in the region,\u201d IMF says.<\/p>\n

Kenya\u2019s policy rate has increased by an average of 1.25 per cent to 8.25 per cent this year, being the second highest rate increase in East African region after Uganda\u2019s 2.5 per cent increase.<\/p>\n

Following worldwide trends, the region’s inflation has increased faster and more persistently than previously anticipated.<\/p>\n

This reflects the mounting prices for essential food and energy items, which comprise about 50 per cent of the region\u2019s consumption basket.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. The country\u2019s economic growth prospects to the end of this year has been projected to a slow of 5.3 per cent by the International Monetary Fund (IMF). This is down from last year\u2019s projection of 7.5 per cent. In its latest Regional Economic Outlook dubbed, Living on the edge\u2019, the lender attributes […]<\/p>\n","protected":false},"author":84,"featured_media":72354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-72355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nIMF cuts Kenya\u2019s economic growth to 5.3% - kenya<\/title>\n<meta name=\"description\" content=\"The country\u2019s economic growth prospects to the end of this year has been projected to a slow of 5.3 per cent by the Inte ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF cuts Kenya\u2019s economic growth to 5.3%\" \/>\n<meta property=\"og:description\" content=\"The country\u2019s economic growth prospects to the end of this year has been projected to a slow of 5.3 per cent by the Inte ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-26T16:17:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-26T16:26:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2022\/10\/postQueueImg_11-63595fb324ff1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"IMF cuts Kenya\u2019s economic growth to 5.3%\",\"datePublished\":\"2022-10-26T16:17:51+00:00\",\"dateModified\":\"2022-10-26T16:26:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3\"},\"wordCount\":308,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2022\/10\/postQueueImg_11-63595fb324ff1.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/imf-cuts-kenyas-economic-growth-to-5-3\",\"name\":\"IMF cuts Kenya\u2019s economic growth to 5.3% - 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