Kenya's tourism industry is stable and will not suffer "long lasting effects" from the attack by Islamist militants on a Nairobi shopping mall, according to the country's finance minister.
Henry Rotich said the east African nation's growth target for 2013 remained at 5.5-6 percent and it plans to go ahead with a debut Eurobond issue this financial year.
His assessment was at odds with the views of some analysts who predicted that while the weekend attack that killed at least 72 people would not hurt long-term investment, growth and fiscal revenues, especially from tourism, would be hit.
"We do not see any significant effect on the overall economic performance arising from the recent tragedy, and our growth objective for 2013 remains unchanged at around 5.5-6 percent," Rotich said.
However, in a briefing note issued on Thursday, ratings agency Moody's assessed the mall raid as "credit negative".
"We expect this high profile attack... will adversely (affect) Kenya's growth and fiscal revenues, most directly through its effect on tourism, which accounts for 12.5 percent of GDP, 7.4 percent of investment and 11 percent of total employment," Moody's said.
But it added it saw no effect on foreign direct investment, the country's planned debut international bond, or multilateral donor financing for infrastructure projects.
Hotel operators said it was too early to tell just how badly future bookings might be affected in an industry which took in USD$1 billion during the year ended June.