PwC report forecasts economic recovery from 2016

A new report by accounting firm, Price Water House Coopers (PwC) is projecting that the economy will pick up from next year.

According to the accounting firm the growth will be influenced by strong performance of the industrial sector.

The report which focuses on how the economy fared from 2010 till date and how it will in the next six years indicates that growth will pick up from 2016 with the country recording a 6.4 percent jump from the 3.5 percent that government is projecting for this year.

The industrial sector will drive this growth because of crude oil production from the jubilee field is picking up.

The report is even forecasting growth will even hit 9.2 percent, the best in the long time.

Inflation for this year is expected to decline marginally as well.

A careful look at the report indicates that most of PWC’s data is coming from the World Bank and IMF, so this could be an indication that the outlook for the economy is good.

A development that could attract more capital into the country, especially when the accounting firm is even predicting that economy will improve substantially especially in an Election year.

However some economist believe that although these projections might influence investor decision, there are some who want to be guided by current actions of government.