Kenya Economic Update, October 2016 : Beyond Resilience--Increasing Productivity of Public Investments
Kenya is one of the bright spots in Sub-Saharan Africa. With economic growth rates sustained at above 5 percent, Kenya has outperformed the regional average, for 8 consecutive years. Robust domestic demand emanating from private consumption and gov...
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World Bank, Nairobi, Kenya
2016
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| Online Access: | http://documents.worldbank.org/curated/en/882161477667623804/Beyond-resilience-increasing-productivity-of-public-investments http://hdl.handle.net/10986/25380 |
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okr-10986-253802021-05-25T08:55:25Z Kenya Economic Update, October 2016 : Beyond Resilience--Increasing Productivity of Public Investments World Bank Group economic growth manufacturing global demand macroeconomic policy exchange rate trade fiscal trends monetary policy economic outlook infrastructure investment export competitiveness productivity public investment Kenya is one of the bright spots in Sub-Saharan Africa. With economic growth rates sustained at above 5 percent, Kenya has outperformed the regional average, for 8 consecutive years. Robust domestic demand emanating from private consumption and government investment are the key drivers of growth, underpinned by a stable macroeconomic environment, lower oil prices, diversification, improved security perceptions, and ongoing structural reforms. Medium term economic prospects for Kenya remain robust. Ongoing public infrastructure investments will continue to play a ‘crowding-in’ role, easing transport and energy costs, and supporting economic expansion in construction andindustry. Private consumption will drive service sector growth, while agricultural sector will remain largely dependent on favorable weather conditions and timely availability of inputs. Though oil prices are expected to pick-up over the forecast horizon, Kenya’s external sector account will remain healthy on account of a steady increase in remittances, a rebound in tourism and a rise in foreign direct Investment (FDI). Nonetheless, there exist downside risks that can dent future growth prospects. Risks to Kenya’s future growth prospects that are not included in our baseline outlook emanate from both external and domestic sources. On the external front, these include weaker than expected growth in the global economy, volatility in global financial markets and a spike in oil prices. On the domestic front, these include delays to fiscal consolidation, adverse weather developments, and potential uncertainties associated with the run-up to 2017 elections that could lead to a wait-and-see attitude by investors, thereby dampening short-term growth prospects. 2016-11-18T18:05:31Z 2016-11-18T18:05:31Z 2016-10 Report http://documents.worldbank.org/curated/en/882161477667623804/Beyond-resilience-increasing-productivity-of-public-investments http://hdl.handle.net/10986/25380 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Nairobi, Kenya Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Africa Kenya |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
economic growth manufacturing global demand macroeconomic policy exchange rate trade fiscal trends monetary policy economic outlook infrastructure investment export competitiveness productivity public investment |
| spellingShingle |
economic growth manufacturing global demand macroeconomic policy exchange rate trade fiscal trends monetary policy economic outlook infrastructure investment export competitiveness productivity public investment World Bank Group Kenya Economic Update, October 2016 : Beyond Resilience--Increasing Productivity of Public Investments |
| geographic_facet |
Africa Kenya |
| description |
Kenya is one of the bright spots in
Sub-Saharan Africa. With economic growth rates sustained at
above 5 percent, Kenya has outperformed the regional
average, for 8 consecutive years. Robust domestic demand
emanating from private consumption and government investment
are the key drivers of growth, underpinned by a stable
macroeconomic environment, lower oil prices,
diversification, improved security perceptions, and ongoing
structural reforms. Medium term economic prospects for Kenya
remain robust. Ongoing public infrastructure investments
will continue to play a ‘crowding-in’ role, easing transport
and energy costs, and supporting economic expansion in
construction andindustry. Private consumption will drive
service sector growth, while agricultural sector will remain
largely dependent on favorable weather conditions and timely
availability of inputs. Though oil prices are expected to
pick-up over the forecast horizon, Kenya’s external sector
account will remain healthy on account of a steady increase
in remittances, a rebound in tourism and a rise in foreign
direct Investment (FDI). Nonetheless, there exist downside
risks that can dent future growth prospects. Risks to
Kenya’s future growth prospects that are not included in our
baseline outlook emanate from both external and domestic
sources. On the external front, these include weaker than
expected growth in the global economy, volatility in global
financial markets and a spike in oil prices. On the domestic
front, these include delays to fiscal consolidation, adverse
weather developments, and potential uncertainties associated
with the run-up to 2017 elections that could lead to a
wait-and-see attitude by investors, thereby dampening
short-term growth prospects. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Kenya Economic Update, October 2016 : Beyond Resilience--Increasing Productivity of Public Investments |
| title_short |
Kenya Economic Update, October 2016 : Beyond Resilience--Increasing Productivity of Public Investments |
| title_full |
Kenya Economic Update, October 2016 : Beyond Resilience--Increasing Productivity of Public Investments |
| title_fullStr |
Kenya Economic Update, October 2016 : Beyond Resilience--Increasing Productivity of Public Investments |
| title_full_unstemmed |
Kenya Economic Update, October 2016 : Beyond Resilience--Increasing Productivity of Public Investments |
| title_sort |
kenya economic update, october 2016 : beyond resilience--increasing productivity of public investments |
| publisher |
World Bank, Nairobi, Kenya |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/882161477667623804/Beyond-resilience-increasing-productivity-of-public-investments http://hdl.handle.net/10986/25380 |
| _version_ |
1764459693842890752 |