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Kenya Country Economic Memorandum: Seizing Kenya’s Services Momentum

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-07-31T18:36:11Z
dc.date.available2023-07-31T18:36:11Z
dc.date.issued2023-07-31
dc.description.abstractKenya’s economy has been growing solidly but maintaining and increasing growth will depend on increasing private investment and productivity. Between 2010 and 2019, Kenya maintained a steady annual growth rate of 5 percent and the economy was able to rebound relatively rapidly from the COVID-19 pandemic. However, productivity growth did not make much of a contribution to output growth, and growth has been lower than that of some other, fast-growing middle-income countries. This points to the potential for Kenya to increase growth via productivity gains, by expanding the role of the private sector and, especially, accelerating private investment. Doing this has become more urgent as the Government's fiscal space to invest has shrunk, making it crucial also for the sustainability of growth to identify new opportunities for the private sector to contribute. This Country Economic Memorandum (CEM) focuses on the question of how seizing opportunities in Kenya’s services sector can contribute more effectively to long-term economic growth. This report argues that growing the services sector should not be seen as an alternative to industrialization, but rather as an enabler of economy-wide growth, including in manufacturing, and in agriculture too. It focuses on five channels through which services contribute to jobs, economic transformation and inclusion: (i) the need to SHIFT the services sector to higher value-added activities; (ii) how to LINK services better to other economic activities to grow its enabling role; (iii) how to BOOST the productivity of the sector through technology and increasing competition; (iv) how to TRADE more services through removing regulatory barriers to trade and investment; and finally (v) how to SECURE people’s economic livelihoods better, especially those working in lower-skilled and economically more vulnerable services subsectors. Growing the contribution of services will require a program of structural reforms and complementary efforts.en
dc.identifierhttp://documents.worldbank.org/curated/en/099072623125529056/P177156008ee600bc0bf75078832b97b48f
dc.identifier.doi10.1596/40115
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40115
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectSERVICES SECTOR
dc.subjectLINKAGES
dc.subjectINCREASED PRODUCTIVITY
dc.subjectTECHNOLOGY
dc.subjectCOMPETITION
dc.subjectTRADE
dc.subjectINCLUSION
dc.titleKenya Country Economic Memorandumen
dc.title.subtitleSeizing Kenya’s Services Momentumen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleKenya Country Economic Memorandum: Seizing Kenya’s Services Momentum
okr.date.disclosure2023-07-31
okr.date.lastmodified2023-07-26T00:00:00Zen
okr.doctypeCountry Economic Memorandum
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/099072623125529056/P177156008ee600bc0bf75078832b97b48f
okr.guid099110123072529035
okr.guid099072623125529056
okr.identifier.docmidP177156-08ee6055-9f95-4cbc-bf75-78832b97b48f
okr.identifier.doihttp://dx.doi.org/10.1596/40115
okr.identifier.externaldocumentum34123692
okr.identifier.internaldocumentum34123692
okr.identifier.report183345
okr.import.id1323
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099072623125529056/pdf/P177156008ee600bc0bf75078832b97b48f.pdfen
okr.region.administrativeEastern and Southern Africa
okr.region.countryKenya
okr.sectorCentral Government (Central Agencies)
okr.themeStructural Transformation and Economic Diversification,Job Creation,Human Development and Gender,ICT,Economic Policy,Skills Development,ICT Solutions,Economic Growth and Planning,Private Sector Development,Labor Market Policy and Programs,Jobs,Macroeconomic & Structural Policy Modelling
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicInformation and Communication Technologies::ICT Applications
okr.unitEFI-AFR1-MTI-MacroFiscal-1 (EAEM1)
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