World Economic outlook - kenya gdp growth forecast 2012, economic growth forecast 2012 : Kenya has cut its economic growth forecast for this year slightly to 5.3 percent from 5.7 percent earlier, due to a weak global economy and persistent high food and fuel prices, according to a 2012 budget review document.
The International Monetary Fund said in a statement late on Tuesday it expected the Kenyan economy to grow 5.3 percent in the 2011/12 fiscal year before accelerating to expand 5.8 percent in 2012/13.
The International Monetary Fund said in a statement late on Tuesday it expected the Kenyan economy to grow 5.3 percent in the 2011/12 fiscal year before accelerating to expand 5.8 percent in 2012/13.
the government estimates overall expenditure of 1,147.5 billion shillings in the 2012/13 (July-June) fiscal year, up from 1,066.8 billion shillings in 2011/12.
Net domestic borrowing from the July 1 start of the fiscal year to end-December amounted to 14 billion shillings, according to the document, well short of a targeted 87 billion shillings. Kenya is looking to borrow 119.5 billion in total domestically in 2011/12.
East Africa's biggest economy grew 3.6 percent in the third quarter of 2011 from a year earlier, the slowest growth since the end of 2009. It is expected to have grown by 4.5 percent in 2011, the budget review said, less than a previous forecast of 5.3 percent.
Kenya's economic growth will speed up to 5 percent or more in 2012 if rains vital to the key farm sector do not fail and other shocks do not materialise, high market interest rates should fall in the next six months as the government reduces borrowing on local markets with the help of a foreign loan
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