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Kenya’s economy hit by “slight” slowdown

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The Kenyan Bureau of Statistics has revealed that the country’s economic growth has slowed down in the first three months of 2020, the African Press Agency (APA) can report on Wednesday, 1 July 2020.

During the period under review the Kenyan economy improved by 4.9 percent, representing a slight slow down from 5.5 percent experienced during the same period in 2019.

The country’s main statisticians observed that the hardest hit sector has been tourism which suffered losses due to cancelled travelled plans by tourists to the East African nation following the outbreak of the coronavirus.

Other sectors adversely affected include retail trade, agriculture, and transportation.

The other industry not spared the Covid-19 bug is the financial service sector.

Kenya’s earnings from exports had also taken a hit thanks to the deleterious effect of the pandemic on major global economies such as the United States, China, and the European Union; the East African nation’s main trading partners.

– APA

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