October 3, 2014-In its latest report on Kenya’s economy, the IMF concluded that rising investments are set to spur Kenya’s economic growth. According to the IMF report, the Kenyan government is taking positive steps to rapt its policies to middle-income type challenges, noting the country’s market friendly business environment.

“Promising commercial prospects of oil discoveries could potentially provide significant foreign exchange and fiscal resources,” says the report.

Economic activity will be propelled by a surge in public investment in infrastructure, such as the new airport terminals and roads slated to begin construction next month, as well as renewed interest of foreign investors, and lower transaction costs due to information technology.

The government reformed its monetary policy, financial sector management and create fiscal space for large infrastructure projects.

The IMF projects Kenya’s economy to grow for a third straight year at 5.8 percent.