Kenyan economy growing in 2010: IMF


The International Monetary Fund said today it expects Kenya’s economy to grow by 4.5 % in 2010 from 2.75% in 2009, helped by improving global economic conditions.

“Staff estimates that GDP growth will be around 2.75 percent in 2009, and reach only 4.5 percent in 2010,” IMF said in a statement posted on its website.
“Given that Kenya is fairly well integrated into the global economy, recent improvements in economic conditions in advanced economies could benefit the Kenyan economy in the near term though exports, remittances,” it said.

IMF added that the country’s net foreign direct investment flows were likely to remain below pre-crisis levels.

A recent Reuters poll of economists and analysts showed Kenya’s economy growing by 4.2% in 2010.

Kenya’s economic growth was slashed in 2008 following a bloody post-election crisis and the global economic downturn.