NAIROBI, Jan 28 (Reuters) - The International Monetary Fund said on Thursday it expects Kenya's economy to grow by 4.5 percent in 2010 from 2.75 percent in 2009, helped by improving global economic conditions.
'Staff estimates that GDP growth will be around 2.75 percent in 2009, and reach only 4.5 percent in 2010,' IMF said in a statement posted on its website.
'Given that Kenya is fairly well integrated into the global economy, recent improvements in economic conditions in advanced economies could benefit the Kenyan economy in the near term though exports, remittances,' it said.
IMF added that the country's net foreign direct investment flows were likely to remain below pre-crisis levels.
A recent Reuters poll of economists and analysts showed Kenya's economy growing by 4.2 percent in 2010.
Kenya's economic growth was slashed in 2008 following a bloody post-election crisis and the global economic downturn.
(Reporting by George Obulutsa; Editing by Kim Coghill) (For more Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com/) Keywords: KENYA IMF/ (Email: nairobi.newsroom@reuters.com +254 20 2224 717; Reuters Messaging: george.obulutsa.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Staff estimates that GDP growth will be around 2.75 percent in 2009, and reach only 4.5 percent in 2010,' IMF said in a statement posted on its website.
'Given that Kenya is fairly well integrated into the global economy, recent improvements in economic conditions in advanced economies could benefit the Kenyan economy in the near term though exports, remittances,' it said.
IMF added that the country's net foreign direct investment flows were likely to remain below pre-crisis levels.
A recent Reuters poll of economists and analysts showed Kenya's economy growing by 4.2 percent in 2010.
Kenya's economic growth was slashed in 2008 following a bloody post-election crisis and the global economic downturn.
(Reporting by George Obulutsa; Editing by Kim Coghill) (For more Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com/) Keywords: KENYA IMF/ (Email: nairobi.newsroom@reuters.com +254 20 2224 717; Reuters Messaging: george.obulutsa.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
