Kenya's economy is expected to grow at a slightly faster pace this year, the World Bank said on Wednesday, underpinned by a recovery in the key agriculture sector.
The East African nation's economy will expand by 5.0% in 2023, the bank said in its latest biannual Kenya Economic Update report, inching up from 4.8% last year.
The growth outlook, however, faces several risks, the bank said, including any new global shocks that could curb demand for exports, the World Bank said. "Though the debt remains at high risk of distress, it remains sustainable," said Naomi Mathenge, a senior economist at the bank and one of the report's authors.
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