World Bank report names Kenya, Rwanda among resilient economies

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Kenyan Farmers

The report is a shocker to many Kenyans as the country is currently inflation with prices of foodstuffs sky-rocketing day by day.

By Muchemi Wachira, muchemi.wachira@alleastafrica.com

NAIROBI – Kenya’s economy remains among the best performing in sub-Saharan African,  according to latest projections from the World Bank and International Monetary Fund.

The report is a shocker to many Kenyans as the country is currently inflation with prices of foodstuffs sky-rocketing day by day.

The same Africa’s Pulse report from the World Bank, which is the latest, Rwanda’s economy has been described as has been described as resilience after the country posted annual growth rate above 5.4 per cent in 2015-2017.

Rwanda’s economy grew by 5.9 per cent in 2016, according to figures from the National Institute of Statistics of Rwanda (NISR).

The report’s reveals that five other countries — Côte d’Ivoire, Ethiopia, Mali, , Senegal, and Tanzania — continue to exhibit  “economic resilience, supported by domestic demand, posting annual growth rates above 5.4 per cent in 2015-2017.

The World Bank has however urged sub-saharan countries, to undertake much needed development spending while avoiding increasing debt to unsustainable levels.

It also raised concern about Africa’s weak economic growth and increasing debt levels.

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