April 28, 2020 / 9:18 AM / a month ago

Kenya's estimates 2020 GDP growth of 2.5% but finmin says could go lower

NAIROBI, April 28 (Reuters) - Kenya’s economic growth could decline to 2.5% in 2020, but may go lower to 1.8%, compared to 5.4% growth a year earlier, finance minister Ukur Yatani said on Tuesday, as key sectors of the economy suffer the effects of the coronavirus outbreak.

“It is generally all sectors. All sectors, particularly tourism, general services,” Yatani told reporters, when asked which sectors will be impacted by the epidemic.

Yatani also said that Kenya expects to unlock 75 billion Kenyan shillings from an International Monetary Fund standby facility by mid-May. (Reporting by George Obulutsa; writing by Omar Mohammed; Editing by Catherine Evans)

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