Wednesday, October 23, 2023 - The International Monetary Fund (IMF) has urged Kenyans to brace for challenging times ahead after it slashed the country's 2025 growth projection.
In an announcement on Tuesday, the IMF slashed Kenya's 2025 economic growth projections
from 5.3% to 5%.
"In emerging markets and developing
economies, disruptions to the production and shipping of commodities,
especially oil conflicts, civil unrest, and extreme weather events, have led to
downward revisions to the outlook for the Middle East and Central Asia and that
for sub-Saharan Africa," IMF stated .
This comes after President William Ruto withdrew
the controversial Finance Bill 2024 following the anti-tax protests nationwide.
The East African powerhouse has been saddled by
huge public debt, high inflation, and President William Ruto's cash-strapped
government's introduction of numerous new levies and tax hikes.
The Kenyan DAILY POST
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