The Central Bank of Kenya will only revise its 5.5 per cent pre-election economic growth after official first half gross domestic data are released by the Kenya National Bureau of Statistics. CBK governor Patrick Njoroge downplayed said the impact of prolonged uncertainty on growth following the shock annulment of President Uhuru Kenyatta’s re-election by the Supreme Court on September 1.
He said the ruling for fresh presidential election, the first in Africa, has delayed decision-making for “a few weeks”, with no significant impact on growth.
“We Kenyans tend to be very loud with our politics but we are also very resilient as a people. The expectation is that every Kenyan will go out and vote and the outcome of that is something that we will all support because we know that this will lead to market-based policies in the next five years,” Dr Njoroge told reporters in Nairobi yesterday aon the sidelines of Renaissance Capital third annual investment conference. “We have a very favourable outlook and asked them to take a long-term bet. This is the time to make a long-term bet on the economy.”