• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

World Bank Lowers Kenyan Growth Forecast on Floods, Protests

9 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
34
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

World Bank Lowers Kenyan Growth Forecast on Floods, Protests

Kenya’s economy is heading for its worst performance since a coronavirus-induced contraction in 2020 because of floods and anti-government protests, according to the World Bank.

The Washington-based lender trimmed the East African nation’s 2024 economic growth outlook to 4.7% from 5% forecast in June, it said in an economic report on Kenya published on Tuesday.

Flooding and mudslides that killed more than 300 people in April and street protests that left dozens dead weighed on economic output, accompanied by the government’s push for fiscal consolidation through tighter spending, the lender said.

The World Bank expects growth of 5% in the coming year, softer than the 5.3% it previously estimated. The main risks to that outlook continue to be further fiscal slippage, extreme weather events and external economic challenges, it said.

“To sustain inclusive growth with more and better jobs, Kenya should address structural challenges, including ones related to fiscal sustainability, governance, weakening exports, lagging productivity growth, and increased frequency and intensity of climate shocks,” according to the report.

The nation continues to face a high risk of debt distress, with several indicators still showing weakness, according to the World Bank. Domestic debt — now Kenya’s biggest liability — remains expensive and of relatively short maturity periods, it said.

RelatedPosts

Chamber of Mines Cautions Government Against Halving Mining Lease Tenure

Sidi Ould Tah Assumes Office As 9th President of the African Development Bank Group

Angola to Begin Fuel Production at First New Refinery in 50 Years

Missed revenue targets continue to undermine fiscal consolidation, necessitating budget expenditure adjustments. The key issue stems from overly optimistic revenue projections leading to revenue shortfalls and thereby missed targets, the World Bank said.

Source: bloomberg
Via: norvanreports
Tags: ProtestsWorld BankWorld Bank Lowers Kenyan Growth Forecast on Floods

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Fuel Prices Adjust Across Pumps as Cedi Depreciation Offsets Global Oil Decline

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

Black Stars Begin 2026 World Cup Qualifying Campaign with Training in Accra; Set to Depart for Chad Today

Qatar Seeks to Deepen its Influence in Africa With $103bn Investment Pledge

Bundesliga Faces Critical Challenge as Premier League Flexes Financial Muscle

US Open: Osaka Dominates Gauff; Swiatek Rolls into Quarters

Trending

Business

Chamber of Mines Cautions Government Against Halving Mining Lease Tenure

September 2, 2025

Chamber of Mines Cautions Government Against Halving Mining Lease Tenure The Ghana Chamber of Mines has cautioned...

Sidi Ould Tah Assumes Office As 9th President of the African Development Bank Group

September 2, 2025

Angola to Begin Fuel Production at First New Refinery in 50 Years

September 2, 2025

Fuel Prices Adjust Across Pumps as Cedi Depreciation Offsets Global Oil Decline

September 2, 2025

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

September 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.