Kenyan economy to grow by 5 percent, says IMF

  • The International Monetary Fund (IMF) expects the Kenyan economy to grow by at least 5 percent this year and in 2013.

    However, the IMF warned that its growth forecast is dependant on the east African nation carrying out a fair and free presidential poll scheduled for next March.

    The last general elections in 2007 sparked political unrest after the then opposition disputed the result, leading to ethnic slaughter in which more than 1,200 people were killed.

    Kenya's ministry of economic planning expects the economy to grow by 3.5 to 4.5 percent this year while the Treasury expects a more optimistic growth rate of 5.3 percent.