Report

Kenya Economic Update, December 2017 : Poised to Bounce Back?

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collection.link.85
https://openknowledge.worldbank.org/handle/10986/2193
collection.name.85
Economic Updates and Modeling
dc.contributor.author
World Bank Group
dc.date.accessioned
2017-12-18T22:33:48Z
dc.date.available
2017-12-18T22:33:48Z
dc.date.issued
2017-12
dc.description.abstract
This is a critical time for Kenya, as the incoming administrations at national and devolved levels face the high expectations of ordinary Kenyans to deliver on ambitious economic development agendas and hasten the attainment of Vision 2030. This sixteenth edition of the Kenya economic update seeks to contribute to the policy discourse on pertinent economic issues. The Kenyan economy faced multiple headwinds in 2017. A drought in the earlier half of the year, the ongoing slowdown in private sector credit growth, and a prolonged election cycle weakened private sector demand, notwithstanding an expansionary fiscal stance. Nonetheless, reflecting the relatively diverse economic structure, these headwinds were partially mitigated by the recovery in tourism, better rains in the second half of the year, still low global oil prices, and a relatively stable macroeconomic environment. With headwinds subsiding, economic growth is projected to rebound over the medium term, reaching about 5.8 percent in 2019. However, this rebound is predicated on policy reforms needed to address downside risks that have the potential to derail medium term prospects. This report presents a rich menu of policy options tabled in this edition of the Kenya Economic Update, identifying opportunities for the consolidation of the fiscal stance, both from an expenditure and revenue mobilization perspective. This is complimented with specific suggestions of macroeconomic and microeconomic reform measures that could help address the slowdown in credit growth and the broader issue of access to credit. Finally, policy options to climate proof the agriculture sector, to mitigate the worse effects of adverse weather conditions are discussed.
en
dc.identifier
http://documents.worldbank.org/curated/en/140071512474376644/Kenya-economic-update-Poised-to-bounce-back-reviving-private-sector-credit-growth-and-boosting-revenue-mobilization-to-support-fiscal-consolidation
dc.identifier.uri
http://hdl.handle.net/10986/29033
dc.language
English
dc.publisher
World Bank, Nairobi
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
FISCAL
dc.subject
FINANCE
dc.subject
GROWTH
dc.subject
POLICY
dc.subject
FUNDS
dc.subject
ECONOMIC GROWTH
dc.subject
FISCAL TRENDS
dc.subject
ECONOMIC OUTLOOK
dc.subject
RISKS
dc.subject
PUBLIC INVESTMENT MANAGEMENT
dc.subject
ACCESS TO FINANCE
dc.subject
INTEREST RATE CAP
dc.subject
REVENUE
dc.subject
CORPORATE INCOME TAX
dc.subject
VAT
dc.title
Kenya Economic Update, December 2017
en
dc.title.subtitle
Poised to Bounce Back?
en
dc.type
Report
en
okr.date.disclosure
2017-12-05
okr.doctype
Economic & Sector Work :: Economic Updates and Modeling
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/140071512474376644/Kenya-economic-update-Poised-to-bounce-back-reviving-private-sector-credit-growth-and-boosting-revenue-mobilization-to-support-fiscal-consolidation
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
090224b0853e42ce_1_0
okr.identifier.internaldocumentum
29225799
okr.identifier.report
121895
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/140071512474376644/pdf/121895-WP-P162368-PUBLIC-KenyaEconomicUpdateFINAL.pdf
en
okr.region.administrative
Africa
okr.region.country
Kenya
okr.topic
Public Sector Development :: Public Sector Economics
okr.topic
Finance and Financial Sector Development :: Access to Finance
okr.topic
Macroeconomics and Economic Growth :: Economic Forecasting
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.topic
Macroeconomics and Economic Growth :: Economic Policy, Institutions and Governance
okr.topic
Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.topic
Macroeconomics and Economic Growth :: Taxation & Subsidies
okr.unit
GMF - East Africa (GMF07)

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