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Economic & Sector Work :: Policy Note

Turning the Tide in Turbulent Times : Making the Most of Kenya's Demographic Change and Rapid Urbanization

ACCOUNTABILITY STRUCTURES ADVERSE SHOCKS AFFORDABLE HOUSING AGRICULTURE AIRPORT BALANCE OF PAYMENTS BANK BRANCHES BANK RATE BASIS POINTS BEST MARKET BILL BRANCH NETWORKS BUDGET DEFICIT BUFFERS BUSINESS CONFIDENCE BUSINESS ENVIRONMENT CAPACITY CONSTRAINTS CAPITAL FLIGHT CAPITAL INVESTMENTS CARS CASH RESERVE CASH TRANSFERS CENTRAL BANK COMMERCIAL BANKS COMMODITY COMMON MARKET COMMUTERS CONSUMER PRICE INDEX CONSUMERS CREDIT GROWTH CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT DEMOGRAPHIC DEMOGRAPHIC CHANGE DEMOGRAPHIC CHANGES DEPOSIT DEPOSIT RATES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPMENT ASSISTANCE DEVELOPMENT STRATEGY DIVIDEND DIVIDENDS DRIVING ECONOMIC DEVELOPMENTS ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC REFORM ECONOMIC SHOCKS ECONOMIES OF SCALE EMERGING MARKETS ENABLING ENVIRONMENT EQUIPMENT EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATES EXPANSION OF EXPORTS EXPENDITURES EXPORT BASE EXPORT EARNINGS EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTER EXPORTERS EXPORTS EXTERNAL SHOCKS EXTREME POVERTY FINANCIAL CRISIS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FOOD PRICES FORECASTS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTORS FREIGHT FREIGHT SERVICES FUEL FUEL PRICE FUEL PRICES GDP GDP PER CAPITA GLOBAL ECONOMIES GLOBAL ECONOMY GLOBAL EXPORT GLOBAL EXPORTS GLOBAL MARKETS GOVERNMENT EXPENDITURE GROWTH RATE GROWTH RATES HIGH TRANSPORT HIGH-SPEED TRAIN HOLDING IMBALANCE IMPORT IMPORT COSTS IMPORTS INCOME INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INSURANCE INTEREST RATES INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTMENT FLOWS INVESTOR CONFIDENCE LABOR FORCE LABOR MARKET LAND TRANSPORT LEVERAGE LEVIES LIFE EXPECTANCY LIQUIDITY LOCAL ECONOMY MACROECONOMIC INDICATORS MACROECONOMIC STABILITY MARKET ACCESS MIDDLE INCOME COUNTRY MONETARY FUND MONETARY POLICIES MONETARY POLICY NEW MARKET NEW MARKETS NEW PRODUCTS NON-PERFORMING LOANS OIL PRICE OIL PRICES OUTPUT OUTSOURCING PER CAPITA INCOME POLICE POLICY RESPONSE PRICE INCREASE PRICE INCREASES PRIVATE INVESTMENT PRIVATE SECTOR GROWTH PRIVATE SECTOR INVESTMENT PROFIT MARGINS PUBLIC DEBT PUBLIC INVESTMENT PUBLIC POLICY RAIL RAILWAY RAILWAY LINE RAILWAY SYSTEM REAL ESTATE REAL GROWTH RATE REFORM PROGRAM REGIONAL MARKETS REPO REPO RATE ROAD ROAD LINKS ROADS ROUTES SAVINGS SAVINGS RATE SCANDAL SHORT TERM INTEREST RATES SOCIAL DEVELOPMENT STOCK EXCHANGE STOCK MARKET STOCK MARKET DECLINES STOCKS STREETS STRUCTURAL CHANGE SUPPLY SHOCK TARIFF BARRIERS TAX TOTAL CREDIT TOTAL EXPORT TOTAL IMPORTS TRADE DEFICIT TRADE SHOCKS TRADING TRADING PARTNER TRADING PARTNERS TRADING VOLUMES TRAFFIC TRANSIT TRANSIT CORRIDOR TRANSPORT TRANSPORT COSTS TRANSPORT EQUIPMENT UNCERTAINTY UPWARD PRESSURE URBANIZATION VALUE ADDED VEHICLE VEHICLES WAGES WAREHOUSE WORLD MARKETS
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Washington, DC
Africa | Kenya
2013-03-27T20:31:30Z | 2013-03-27T20:31:30Z | 2011-06

Kenya will need to navigate through another economic storm in 2011. This will reduce growth to a projected 4.8 percent, which is still substantially higher than the average of the last decade. The decade started on a bullish note for Kenya. In 2010, growth was higher than expected at 5.6 percent. If growth accelerated to 6 percent, Kenya could reach Middle Income Country status by 2019. Kenya is at the threshold of a major demographic transition and is urbanizing rapidly. Each year, Kenya will continue to grow by more than one million people, who will live longer, be better educated, and increasingly live in cities. This social and economic transformation needs to be managed well to catalyze its development impact. This report recommends that in order for Kenya to continue to prosper in 2011 it will need to maintain macroeconomic stability, and contain inflation and further increases in debt. This entails tighter monetary policies and a reduction of the fiscal deficit. If there is a need for additional expenditures in response to external shocks, reallocations seem to be the most appropriate response. Kenya can leverage its auspicious location and its role as a hub for the larger East African region by upgrading its infrastructure, creating a good business environment, and continuing with region integration. This would also position Kenya globally and generate additional exports in services and manufacturing. The report concludes that the best way to start making Kenya more competitive is to strengthen its coastal hub and to modernize the port of Mombasa.

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