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Kenya Lowers Growth Forecast as Tourism Drops

Treasury Secretary says terrorism is taking its toll

Henry Rotich, Kenyan Treasury Secretary

Henry Rotich, Kenyan Treasury Secretary

Henry Rotich, Kenyan Treasury Secretary announced that he expects Kenya’s growth to fall to around 5% from an originally projected 5.8%. Bloomberg reports him to have said this year we had some security problems that translated into travel advisories.

Hotels in Kenya have reported a huge fall in occupancy rates as many countries have issued travel warnings to their citizens. Bloomberg estimates they are as little as 12% full.

Despite this setback the country is continuing to grow due to the continual investment in the region and the development of worker’s spending power.

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