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Kenya Economic Report, June 2013, No. 8 : Time to Shift Gears--Accelerating Growth and Poverty Reduction in the New Kenya

ACCOUNTING AGGREGATE DEMAND AGRICULTURE AMOUNT OF CREDIT ASSET QUALITY BALANCE OF PAYMENT BALANCE OF PAYMENTS BALANCE SHEETS BANK LENDING BANK RATE BANKING ASSETS BANKING SECTOR BASIS POINTS BENCHMARK BENCHMARK INTEREST RATE BENEFICIARIES BOND ISSUANCE BOND ISSUE BOND MARKETS BRIBE CAPITAL FLOWS CAPITAL FORMATION CAPITAL GOODS CAPITAL INFLOWS CASH RESERVE CASH RESERVE RATIO CASH TRANSFER CDF CENTRAL BANK CLIMATIC CONDITIONS COMMERCIAL BANKS COMMODITY PRICES CONSUMER DURABLES CONSUMER PRICE INDEX CONSUMPTION EXPENDITURE CPI CREDIT EXPANSION CREDIT GROWTH CREDIT SQUEEZE CREDITORS CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT LEVELS DEBT STOCK DEFICITS DEPOSIT DEVELOPMENT STRATEGY DIVERSIFICATION DOMESTIC BORROWING DOMESTIC DEBT DOMESTIC GOVERNMENT BOND ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC SITUATION ELECTRICITY GENERATION EMERGING MARKETS ENROLLMENT EQUIPMENT EQUITIES EQUITY INDEX EQUITY MARKETS EXCHANGE RATE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORTS EXTERNAL DEBT EXTERNAL SHOCKS EXTREME POVERTY FINANCES FINANCIAL CRISIS FINANCIAL MARKETS FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FISCAL POLICIES FISCAL POLICY FIXED CAPITAL FIXED INCOME FIXED INCOME SECURITIES FORECASTS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT GDP GDP PER CAPITA GENDER GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL ECONOMY GOVERNMENT BONDS GOVERNMENT EXPENDITURE GOVERNMENT POLICIES GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH POTENTIAL GROWTH RATE HOLDING HOUSEHOLD WELFARE HOUSEHOLDS HUMAN CAPITAL INCOME GROUPS INCOME TAX INCOME TAXES INEQUALITY INFLATION INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATE SPREAD INTEREST RATES INTEREST RATES ON GOVERNMENT SECURITIES INTERMEDIATE GOODS INTERNATIONAL MARKETS INVESTING INVESTMENT RATE INVESTMENT SPENDING INVESTOR BASE JOB CREATION LABOR COSTS LABOR PRODUCTIVITY LIQUIDITY LIVING CONDITIONS LIVING STANDARD LOAN LOAN PERIOD LOCAL CURRENCY LONG TERM CAPITAL M1 M2 M3 MACROECONOMIC ENVIRONMENT MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET INTEREST RATES MATURITY MATURITY STRUCTURE MIDDLE INCOME COUNTRY MOBILE PHONE MONETARY FUND MONETARY INSTRUMENT MONETARY POLICY MONEY MARKET NATIONAL INCOME NATIONAL SECURITY NATIONAL TREASURY NATURAL RESOURCES NET EXPORTS NON-PERFORMING LOANS OIL OIL PRICE OIL PRICES OVERVALUATION PAYMENT FLOWS PENSION PENSION FUNDS PERSONAL LENDING PERSONAL LOANS PHYSICAL CAPITAL POLICY MAKERS POLITICAL UNCERTAINTIES POLITICAL UNCERTAINTY POPULATION GROWTH PORTFOLIO PORTFOLIO FLOWS PORTFOLIO INFLOWS PORTFOLIO INVESTMENT POSITIVE EFFECTS POTENTIAL OUTPUT PRICE FLUCTUATIONS PRICE MOVEMENTS PRIVATE CONSUMPTION PRIVATE SECTOR CREDIT PRODUCTIVE ASSETS PRODUCTIVITY GROWTH PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC FINANCE PUBLIC POLICY PUBLIC SPENDING QUALITY OF ASSETS REAL EXCHANGE RATE REAL EXCHANGE RATES REAL GDP RECESSION RECURRENT EXPENDITURE REGRESSION ANALYSIS REMITTANCES RESERVES RETURN RETURNS SAFETY NETS SAVINGS SAVINGS DEPOSITS SAVINGS RATES SHORT TERM INTEREST RATES SMALLHOLDER SMALLHOLDER AGRICULTURE SOVEREIGN BOND STATUTORY LIQUIDITY STATUTORY REQUIREMENT STOCK EXCHANGE STOCK MARKET SUSTAINABLE GROWTH T-BILLS TAX TAX REVENUE TAX REVENUES TELECOMMUNICATIONS TERM DEPOSITS TOTAL REVENUE TRADE BALANCE TRADE BALANCES TRADING TRANSACTION TRANSACTION COSTS TREASURIES TREASURY BILL TREASURY BILL RATES UNION WAGES WEALTH YIELD CURVE YIELD CURVES
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Washington, DC
Africa | Kenya
2014-01-17T22:45:02Z | 2014-01-17T22:45:02Z | 2013-06

The report has three main messages. First, the economy is expected to achieve higher growth targets in 2013 (5.7 percent) and 2014 (6 percent) over what it achieved in 2012 (4.6 percent), as a result of the smooth election process. However, the government will need to make a concerted effort, if it wishes to approach the 10 percent annual growth rate foreseen in Vision 2030. The report's second message emphasizes on the steps that the government needs to take to create an enabling framework for significant private sector-led growth. The Government needs to continue to invest in infrastructure, to increase domestic energy production, to address the other bottlenecks that affect the cost of doing business, and to continue following sound monetary and fiscal policies. Finally, the report's third message focuses on the poverty situation in Kenya, noting progress made since 2005, when an estimated 47 percent of the population lived below the poverty line, to the present, where poverty estimates range between 34 and 42 percent, the imprecision resulting from the lack of any recent survey data. The report notes the spatial dimension of poverty, and the poor tend to live in the arid and semi-arid regions in the north and north east. It concludes with thoughts about a poverty reduction strategy, which would emphasize on job creation, enhanced productivity of smallholder farms, strengthening and expanding cash transfer programs, targeted public spending programs to provide quality education to the rural poor, and improved poverty monitoring, so that the government can rapidly see which activities have the greatest impacts on improving the lives of the poor.

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