Kenya’s economy could grow up to 5.7 pc

THE EAST AFRICAN: www.theeastafrican.co.ke
Kenya’s economy could build on rebounding regional and global demand to record a higher than expected growth in coming months, the International Monetary Fund has projected, even as discontent grows over rising food prices that have stoked street protests.

The IMF, in its latest review of the economy, has revised its projection upward, saying growth could hit 5.7 per cent in 2011, up from an earlier outlook of 5.4 per cent.

This expansion, the Bank said, will be driven by a rebound in regional and global demand that would in turn support key sectors like tourism.

NAIROBI STAR: www.nairobistar.com 
Kenya's economy is expected to grow 5.7 percent in fiscal year ending June 2012 from 5.4 percent in 2010/11, while headline inflation is seen at 8-9 percent by end of this year, the International Monetary Fund said in a statement. The projection is in line with the Kenyan government's own forecast contained in the finance minister's budget speech last year. "A rebound in regional and global demand supports tourism, and a dynamic private sector has spurred investment and an acceleration of growth across all non-agricultural sectors," the IMF said late on Thursday. "Agriculture growth is expected to decelerate sharply because of delayed rains during the main rainy season (April-June)."