News highlights-April 12 2017 World Bank dims Kenya’s growth to 5.5% in 2017

News highlights-April 12 2017 World Bank dims Kenya’s growth to 5.5% in 2017

World Bank dims Kenya’s growth to 5.5% in 2017

The World Bank has revised its economic growth projections for Kenya to 5.5 percent in 2017, down from an initial target of 6 percent. The revision is based on the ongoing drought and slowdown in private sector credit that is seen stalling growth during the year.

The World Bank’s Kenya Economic Update indicates that rising crude oil prices are also likely to dampen growth prospects.Kenya is a net importer of oil.

READ ALSO: Drought and lending rate cap pose bigger risk to the economy than August elections, experts say

A construction worker (bottom) works on residential apartments under construction in Nairobi, Kenya, 09 August 2015. Real estate business has become a booming business especially in Nairobi recently, caused by the increasing demand of decent housing due to the growing economy, forcing most people to leave their rural homes to come and settle in Nairobi in pursuit of a better future. EPA/DANIEL IRUNGU

“Given the headwinds from the ongoing drought, weak credit growth and pick up in oil prices, GDP growth is expected to decelerate to 5.5 percent in 2017,” the World Bank said.

The Breton woods institution however said growth was expected to pick up in 2018 with a projection of 5.8 percent GDP growth.

7 bandits killed in Baringo security operation

At least seven bandits were killed by police during a security operation in Tiaty, Baringo County late Tuesday, April 11.

One police officer was also shot and seriously wounded as they engaged the gunmen in Nasorot, a remote village in the volatile region where Pokot and Marakwet clans have been fighting prompting the military deployment.

“The seven bandits were killed but there are many more who are believed to have escaped with serious injuries,” one senior police officer from the region said, “the death toll is likely to rise.”

READ ALSO: 10 people killed, 10,000 displaced in Baringo-Human Rights report

An AK-47 rifle was recovered from the Pokot bandits who are said to have been planning a raid on villages to drive away livestock, according to police. Such raids have since January left more than 50 people dead, including women and children.

Police service to receive 1000 new housing units

1000 housing units earmarked for use by the Kenya Police Service are set to be handed over to the service boosting the long overdue effort to provide proper housing for the police.

Already, the first batch of the 250 housing units has been handed over to the service which for years has lived in poor and dilapidated structures.

According to the PS for Housing and Urban development Aidah Munano, plans are underway for another 1,000 units in the coming financial year.

READ ALSO: International jurists want Inspector General of police to offer public apology over Eastleigh shooting

Officers outside the modern houses at Kamulu police station on December 29 2016. The houses were built using Industrial Building Technology Systems (Photo: The Star Kenya)

Munano added that they expected the new houses to be constructed faster than the current ones as they were now using new and technology.

 

Previous Sports headlines-April 12 2017 Dybala stars as Juventus outclass Barcelona
Next Transgender Caitlyn Jenner reveals she has undergone a sex-change operation and is now fully a woman

You might also like

Latest 0 Comments

Griezmann scores as France survive scare to beat Ireland

Hosts France came from behind to beat the Republic of Ireland, who finished with 10 men, and reach the quarter-finals of Euro 2016. The Republic got off to a stunning

Latest 0 Comments

Five police officers killed at US protest

Five Dallas police officers have been killed and six wounded by sniper fire during protests against the shooting of black men by police, authorities say. Police are in a stand-off

Latest 0 Comments

Senators now wade into doctors strike seeking to end crisis

Senators have waded into the ongoing Doctors strike and have now convened a meeting of all stakeholders in a bid to end the crisis that has paralysed the health sector

0 Comments

No Comments Yet!

You can be first to comment this post!

Leave a Reply