NAIROBI (Xinhua) --
Economic analysts on Thursday projected a
positive outlook for Kenya’s economy in 2018 citing improved
investment firm Cytonn said Kenya’s seven economic indicators
had an improvement during the first three months of 2018.
“Following a review
of Q1’2018, we maintain a positive outlook for the macro
economic environment in Kenya, with better Gross Domestic
Product (GDP) prospects relative to 2017, supported by improved
weather conditions and a conducive operating environment,” said
Cytonn in a statement released in Nairobi.
Investment Manager at Cytonn, said that its indicator on
government borrowing has moved from negative at the beginning of
the year to positive and is expected to stay as such for the
rest of the year.
Odour said that at
the beginning of the year, the government was behind its
domestic borrowing target, having borrowed 75.7 percent of their
pro-rated target at the time, and Kenya Revenue Authority (KRA)
was unlikely to meet its collection target due to expected
suppressed corporate earnings in 2017.
He noted that
currently, the domestic borrowing target has been revised
downwards to 2.976 billion U.S. dollars from 4.1 billion dollars
and there was a successful two billion dollar Eurobond issue,
hence the government borrowing is now ahead of its pro-rated
He noted that the
Kenyan economy is projected to grow by 5.5 percent on average in
2018, according to GDP projections from 13 research houses,
global agencies, and government organizations that Cytonn
tracked during the quarter.