December 10, 2013 / 5:35 AM / in 4 years

REFILE-World Bank revises down Kenyan GDP growth for 2013, 2014

(Adds dropped word ‘transmission’ in quote)

NAIROBI, Dec 10 (Reuters) - Kenya, east Africa’s biggest economy, will grow slower than expected in 2013 and 2014, the World Bank said on Tuesday, leaving it lagging behind other economies in the region.

The Kenyan economy will expand 5.0 percent this year and an estimated 5.1 percent next year, the bank said.

“Domestic factors played a role in lower than expected growth, reflecting a weakening investment climate, unsupportive fiscal environment at both the national and county level, and slow transmission of accomodative monetary policy stance into lower lending rates,” the bank said in its December Kenya Economic Update. (Reporting by George Obulutsa; Editing by Richard Lough)

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