Kenya's economy is expected to expand by 5.8% in 2023, a slower pace than the previously forecast 6.1% because of lower growth in the agricultural sector, Central Bank Governor Patrick Njoroge said on Thursday.
Kenya, like others in the region, is emerging from the worst drought in four decades. It has also seen a jump in the prices of basic commodities and is suffering from the effects of a weaker currency and heavy public debt load.
The central bank has repeatedly denied undue interference in the market, saying the regulator was performing its role of enforcing discipline. It says it has no preferred rate for the shilling and only intervenes to reduce volatility. Njoroge said the return of interbank trade over the past two weeks had smoothed out volatility in the shilling exchange rate.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kenya: AUC Chairperson Calls for Calm in Kenya Amidst Public ProtestsPress Release - The Chairperson of the African Union Commission, H.E. Moussa Faki MAHAMAT, expresses deep concern at violence following public protests in Kenya since 21 March 2023, which has resulted in loss of life, damage to property and the interruption of certain economic activities in the capital, Nairobi.
Read more »
These are the top cybersecurity predictions for 2023 - IT-OnlineHalf (50%) of chief information security officers (CISOs) will adopt human-centric design to reduce cybersecurity operational friction, while large enterprises will focus on implementing zero-trust programs. And, going forward, half of cybersecurity leaders will unsuccessfully attempt to use cyber risk quantification to drive enterprise decision making, according to the top cybersecurity predictions revealed by Gartner. […]
Read more »
Oil prices lift after risk of supply issues in IraqChina’s crude oil imports are expected to rise 6.2% in 2023 to 540-million tonnes
Read more »
All set for 2023 IPL: 16 South Africans in popular T20 series | The Citizen🏏16 South Africans will participate in this year’s edition of the Indian Premier League, which gets underway on Friday 🙌 CrickentNews SportNews TheCitizenSport Find out who they are here⬇️
Read more »