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Bank Warns Kenya on Graft
The World Bank has warned that corruption is the main obstacle to Kenya’s growth, widening the annual budget deficit by about two percentage points of GDP and increasing borrowing needs and costs. The report estimated that cutting waste in public procurement by 10% could save about 120 billion shillings in the 2026/2027 fiscal year, and that anti-corruption reforms could raise GDP by 8.7% by 2035—or by 22.3% with stronger measures. Although the Bank raised its growth forecast for this year to 4.6%, from 4.3%, it warned of fiscal risks and said the August 2027 elections could heighten uncertainty and weigh on investment and tourism.
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