Peaceful election key to economic growth- World Bank
Kenyans wait in line to register as voters at Ntulili primary school in Tigania East, Meru county on November 22, 2012. The next General Election will play a key role in determining the extent Kenya will go in achieving the projected economic growth of five per cent, a new report showed December 5, 2012 JOSEPH KANYI
The next General Election will play a key role in determining the extent Kenya will go in achieving the projected economic growth of five per cent, a new report shows.
According to the 2012 Kenya Economic Update Report launched by the World Bank Wednesday, political risks to economic growth are ranked equally to growth risks posed by shocks in the global economy such as the persistent debt crisis in the European markets.
"The conduct of the national elections in 2013 will determine international perceptions of Kenya for the years to come and greatly influence Kenya's medium-term economic prospects," reads the report in part.
Barely 2pc
Economists at the World Bank have placed the average economic growth rates for Kenya during election years at barely two per cent.
As a result of the post election violence that followed the disputed 2007 polls, the country's growth fell from a high of seven per cent to a low of two per cent
"The projected growth will be achieved if only peaceful elections will be held in 2013," said World Bank economist John Randa while presenting the report.
The Bank predicts that Kenya will close the year at a 4.3 per cent GDP growth and rise to 5 per cent in 2013.
