Kenya: World Bank Raises 2026 Growth Forecast to 4.6 Percent and Urges Action on Graft, Estimating Corruption and Collusion Cost About 2 Percent of GDP a Year
Kenya's government should tackle corruption to boost economic growth and raise incomes, the World Bank said on November 4, as it raised its growth forecast for this year to 4.6 percent, from an earlier forecast of 4.3 percent, citing faster-than-projected growth in the first six months of the year. The forecast appears in the latest edition of the lender's biannual Kenya Economic Update report.
The East African nation became a lower-middle-income country in 2014 under the World Bank's classification, but has lagged its peers on widely used measures of governance, the lender said. Corruption and collusion cost the country an estimated 2 percent of GDP a year through higher fiscal deficits, the World Bank said. The International Monetary Fund said in June it had shared a draft report designed to flag governance weaknesses and corruption vulnerabilities with the Kenyan government, following a request from Nairobi to look into the issue.
The World Bank also noted that Kenya will hold a general election in August next year, which could increase uncertainty, curb investment and tourism and add to spending pressures. The report identifies governance reform as one of the key conditions for Kenya to turn its growth momentum into higher incomes.
Source: 世界银行
Published by GSM · USA (original Chinese edition)
Photo: 照片：从内罗毕国家公园望向肯尼亚内罗毕天际线，Shadychiri 摄，Wikimedia Commons，CC BY 4.0 授权 / Photo: Nairobi skyline seen from Nairobi National Park, Kenya, by Shadychiri, Wikimedia Commons, CC BY 4.0
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