Part 1/6:
Kenya’s Economic Challenges: A Look at the World Bank’s Updated Outlook
The World Bank has sounded the alarm regarding Kenya's economic trajectory, predicting the East African nation will experience its most significant downturn since the COVID-19 pandemic in 2020. The organization has revised its 2024 economic growth forecast for Kenya, reducing it from a previously estimated 5% to a modest 4.7%. This adjustment reflects the adverse impacts of recent floods and ongoing anti-government protests, in addition to the government's commitment to fiscal consolidation through stricter spending measures.