Kenya Economic Update April 2018 No 17
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Kenya Economic Update April 2018 No 17
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Author : World Bank Group
language : en
Publisher:
Release Date : 2018
Kenya Economic Update April 2018 No 17 written by World Bank Group and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
After multiple headwinds dampened growth in 2017, a nascent rebound in economic activity in Kenya is gaining momentum. Notwithstanding the projected rebound in economic activity risks are tilted to the downside. The Government of Kenya has outlined four big priority areas for the next five years. These are agricultural and food security, affordable housing, increased share of manufacturing, and universal health coverage. Support from the public and more importantly the private sector will be required to achieve the big 4. Specific measures to create fiscal room to support the big 4 can include: enhancing domestic revenue mobilization through the rationalization of tax exemptions; slowing the pace of expansion of recurrent spending; and improving the efficiency of spending. Boosting agricultural productivity and food security will require re-allocating more resources to agriculture and improving the efficiency of current spending in the sector. To eradicate poverty by 2030, Kenya will need a combination of higher growth, more inclusive growth, and growth that is increasingly driven by the private sector and translates into more rapid poverty reduction.
Kenya Economic Update April 2018 No 17
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Author : Weltbankgruppe
language : en
Publisher:
Release Date : 2018
Kenya Economic Update April 2018 No 17 written by Weltbankgruppe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
After multiple headwinds dampened growth in 2017, a nascent rebound in economic activity in Kenya is gaining momentum. Notwithstanding the projected rebound in economic activity risks are tilted to the downside. The Government of Kenya has outlined four big priority areas for the next five years. These are agricultural and food security, affordable housing, increased share of manufacturing, and universal health coverage. Support from the public and more importantly the private sector will be required to achieve the big 4. Specific measures to create fiscal room to support the big 4 can include: enhancing domestic revenue mobilization through the rationalization of tax exemptions; slowing the pace of expansion of recurrent spending; and improving the efficiency of spending. Boosting agricultural productivity and food security will require re-allocating more resources to agriculture and improving the efficiency of current spending in the sector. To eradicate poverty by 2030, Kenya will need a combination of higher growth, more inclusive growth, and growth that is increasingly driven by the private sector and translates into more rapid poverty reduction.
Kenya Economic Update April 2019 No 19
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Author : Weltbankgruppe
language : en
Publisher:
Release Date : 2019
Kenya Economic Update April 2019 No 19 written by Weltbankgruppe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The Kenyan economy rebounded in 2018 and economic activity in the first quarter of 2019 was healthy, although emerging drought conditions could curtail GDP growth for the remainder of the year. The economy expanded by 6.0 percent in the first three quarters of 2018 compared to 4.7 percent during the same period in 2017 driven by strong private consumption in part due to improved income from agricultural harvests in 2018, remittance inflows, and lower food prices. The Bank's GDP growth estimate for 2018 is about 5.8 percent. A strong pick-up in economic activity in Q1 of 2019 was reflected by real growth in consumer spending and stronger investor sentiment. Nonetheless, a delayed start to the March-May 2019 "long" rainy season could affect the planting season-resulting in poor harvests. In addition, ongoing emergency intervention to address food shortages in several counties could impose fiscal pressure constraining capital spending. These developments have slowed the growth forecast for 2019 and for the medium term relative to our October 2018 Update. Inflation remains within the government's target range of 5±2.5 percent. Headline inflation averaged 4.7 percent in 2018 compared to 8.0 percent in 2017, primarily due to the slowdown in food inflation, which in turn offset a temporary acceleration in energy prices. Further, core inflation has remained below 5 percent, suggesting benign underlying demand pressures. With low inflation, monetary policy could be more accommodative to support growth if needed, but with interest rate caps tied to the policy rate, further loosening would be constrained. The low inflationary pressure has also been supported by a stable local currency. The shilling has traded within a narrow band of Ksh100/US Dollas-Ksh.103/US Dollars in 2018, thereby serving as a nominal anchor to inflationary expectations.
Kenya Economic Update April 2019 No 19
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Author : World Bank Group
language : en
Publisher:
Release Date : 2019
Kenya Economic Update April 2019 No 19 written by World Bank Group and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The Kenyan economy rebounded in 2018 and economic activity in the first quarter of 2019 was healthy, although emerging drought conditions could curtail GDP growth for the remainder of the year. The economy expanded by 6.0 percent in the first three quarters of 2018 compared to 4.7 percent during the same period in 2017 driven by strong private consumption in part due to improved income from agricultural harvests in 2018, remittance inflows, and lower food prices. The Bank's GDP growth estimate for 2018 is about 5.8 percent. A strong pick-up in economic activity in Q1 of 2019 was reflected by real growth in consumer spending and stronger investor sentiment. Nonetheless, a delayed start to the March-May 2019 "long" rainy season could affect the planting season-resulting in poor harvests. In addition, ongoing emergency intervention to address food shortages in several counties could impose fiscal pressure constraining capital spending. These developments have slowed the growth forecast for 2019 and for the medium term relative to our October 2018 Update. Inflation remains within the government's target range of 5 + or - 2.5 percent. Headline inflation averaged 4.7 percent in 2018 compared to 8.0 percent in 2017, primarily due to the slowdown in food inflation, which in turn offset a temporary acceleration in energy prices. Further, core inflation has remained below 5 percent, suggesting benign underlying demand pressures. With low inflation, monetary policy could be more accommodative to support growth if needed, but with interest rate caps tied to the policy rate, further loosening would be constrained. The low inflationary pressure has also been supported by a stable local currency. The shilling has traded within a narrow band of Ksh100/US Dollas-Ksh.103/US Dollars in 2018, thereby serving as a nominal anchor to inflationary expectations.
Kenya Economic Update October 2018
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Author : World Bank Group
language : en
Publisher:
Release Date : 2018
Kenya Economic Update October 2018 written by World Bank Group and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
The Kenyan Economy is on a rebound in 2018. Reflecting improved rains, better business sentiment and easing of political uncertainty, economic activity is rebounding after the slowdown in activity in 2017. According to official statistics, the economy expanded from 4.7 percent in H1 of 2017 to 6.0 percent in H1 of 2018 supported by improved harvest in agriculture, steady recovery in industrial activity, and still robust performance in the services sector. As a result, real GDP growth is projected to reach 5.7 percent in 2018, an upward revision of 0.2 percentage points from the April 2018 Economic Update. Growth in private consumption and investment are driving the rebound. Private consumption picked up in 2018 fueled by rising household incomes from improved agricultural harvests, lower food prices, and strong remittance inflows. A recovery in private sector investment activity is also underway, partly reflected in increased imports of raw materials and chemicals and more positive investor sentiment with the Purchasing Managers' Index remaining in expansionary territory (above the 50- mark) for H1 2018 at 55.1 points compared to 49.7 points over the same period in 2017. The recovery in private sector activity (consumption and investment) is expected to off-set potential drag in growth due to unwinding of fiscal stimulusat a time when fiscal consolidation is gathering momentum. Net exports continued to weigh on growth owing to faster expansion in imports relative to Kenya's exports. There are three key policy recommendations from this analysis. First, the government could consider expanding direct cash transfer programs. Cash transfer programs are well-targeted so that a large fraction of the benefits are captured by the poor. These programs could further be expanded in order to increase their poverty-reducing effect. However, this will require enhancing revenue mobilization for the coverage to increase significantly. Second, exemptions granted within Kenya's VAT regime appear to benefit the poor only marginally. The variation in consumption shares of exempt and zero-rated items across the welfare distribution is small. A review of the VAT law might help remove exemptions and increase revenue that could then be spent in well-targeted and progressive cash transfer programs. However, a more detailed follow-up analysis of exemptions and zero-rates would be necessary to determine item-level incidence. Third and finally, shifting public resources from higher-level health facilities to lower-level facilities is likely to benefit the poor. Conditional on uptake, public health spending on outpatient care is pro-poor while the associated user fees and over the counter purchases are regressive. The results suggest that redirecting spending from higher-level public health facilities to primary care facilities has the potential to benefit the poor and might increase access.
Kenya Economic Update April 2017 No 15
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Author : World Bank Group
language : en
Publisher:
Release Date : 2017
Kenya Economic Update April 2017 No 15 written by World Bank Group and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Economic activity in Kenya remained robust in 2016. For the third consecutive year economic activity in Kenya picked-up, reaching an estimated 5-year high of 5.9 percent in 2016, once again placing Kenya among the fastest growing economies in Sub-Saharan Africa. Kenya's growth momentum in 2016 was supported by a stable macroeconomic environment, low oil prices, favorable harvest in the first half of 2016, rebound in tourism, strong remittance inflows, and an ambitious government infrastructure drive to relieve supply side constraints. Near term GDP growth is expected to dip on account of headwinds, however over the medium term GDP growth should pick-up. Given headwinds from the ongoing drought, weak credit growth, and the pick-up in oil prices, GDP growth is expected to decelerate to 5.5 percent in 2017, a 0.5 percentage point mark down from earlierforecasts. However, over the medium term, we expect these headwinds to ease (rains are expected to return to normal in 2017), and together with the projected steady strengthening of the global economy, rebound in tourism, resolution of some of the underlying causes of slow credit growth, and the easing of some supply-side constraints related to the completion of some major infrastructure projects, GDP growth is expected to accelerate to 5.8 percent and 6.1 percent in 2018 and 2019 respectively, consistent with the underlying growth potential of the Kenyan economy.
Kenya Economic Update April 2017 No 15
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Author : Weltbankgruppe
language : en
Publisher:
Release Date : 2017
Kenya Economic Update April 2017 No 15 written by Weltbankgruppe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Economic activity in Kenya remained robust in 2016. For the third consecutive year economic activity in Kenya picked-up, reaching an estimated 5-year high of 5.9 percent in 2016, once again placing Kenya among the fastest growing economies in Sub-Saharan Africa. Kenya's growth momentum in 2016 was supported by a stable macroeconomic environment, low oil prices, favorable harvest in the first half of 2016, rebound in tourism, strong remittance inflows, and an ambitious government infrastructure drive to relieve supply side constraints. Near term GDP growth is expected to dip on account of headwinds, however over the medium term GDP growth should pick-up. Given headwinds from the ongoing drought, weak credit growth, and the pick-up in oil prices, GDP growth is expected to decelerate to 5.5 percent in 2017, a 0.5 percentage point mark down from earlierforecasts. However, over the medium term, we expect these headwinds to ease (rains are expected to return to normal in 2017), and together with the projected steady strengthening of the global economy, rebound in tourism, resolution of some of the underlying causes of slow credit growth, and the easing of some supply-side constraints related to the completion of some major infrastructure projects, GDP growth is expected to accelerate to 5.8 percent and 6.1 percent in 2018 and 2019 respectively, consistent with the underlying growth potential of the Kenyan economy.
Kenya
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1995-12-15
Kenya written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-12-15 with Business & Economics categories.
This paper reviews economic developments in Kenya during 1990–95. Real GDP growth decelerated from 4.3 percent in 1990 to close to zero in 1992/93. Inflation accelerated from 12 percent in the 12-month period ended December 1989 to 34 percent in March 1993. The central government’s budget deficit increased from 6.7 percent in 1989/90 to 11.4 percent of GDP in 1992/93. Broad money growth (M2) accelerated from 21 percent in the 12-month period ended December 1991 to 36 percent in March 1993.
The Global Findex Database 2017
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Author : Asli Demirguc-Kunt
language : en
Publisher: World Bank Publications
Release Date : 2018-04-19
The Global Findex Database 2017 written by Asli Demirguc-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-19 with Business & Economics categories.
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Kenya
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2008-10-17
Kenya written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-17 with Business & Economics categories.
This Selected Issues paper on Kenya reviews Kenya’s external stability in a context where the exchange rate has strengthened and capital inflows are playing an increasingly important role. Kenya’s external current account deficit has widened, reflecting strong import volumes as well as rising import prices, particularly for oil, but external debt as a percent of GDP has declined steadily. Underlying these developments have been a steady increase in capital inflows and a remarkable rebound of economic growth since 2003 after two decades of stagnation.