Kenya Will Review Growth Target After Rebasing: Says CBK Chief

Kenya will review its economic growth target for this year after it recalculated the size of the economy.

This is a move that led to a jump in annual growth rates, its central bank governor said on Monday.

Government officials put 2013's gross domestic product at 53.4 billion US dollars - 25 per cent higher than previously stated - after updating the base year for its calculation.

Growth for 2013 was revised up to 5.7 per cent from 4.7 per cent. The higher growth trend was confirmed when the statistics office said the economy expanded by 5.8 per cent in the second quarter, up from 4.4 per cent in the first three months. Read More...