Kenya cuts 2017 growth outlook on slowing credit growth

NAIROBI: Kenya's economy is likely to expand by just over 6 percent next year, down from an initial forecast of 6.5 percent, mainly because of slowing private-sector credit growth, a senior Treasury official said on Wednesday. "We don't see credit growth affecting growth especially for 2016.

We have moderated our growth in 2017 to slightly over 6 percent.

Before we were very optimistic it would get to 6.5 percent," Geoffrey Mwau, the director general of fiscal and economic affairs, told Reuters.