IMF warns Kenyans to brace for tough times ahead as it lowers 2025 growth projection

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