Kenya Economic Update, June 2012 : Walking on a Tightrope--Rebalancing Kenya's Economy with a Special Focus on Regional Integration

Kenya Economic Update, June 2012 : Walking on a Tightrope--Rebalancing Kenya's Economy with a Special Focus on Regional Integration

In 2012, Kenya's economy has been on a tightrope. Policy makers have had to walk a fine line between stabilizing the economy and maintaining the growth momentum. While inflation has declined, the exchange rate stabilized, and the fiscal positi...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	World Bank, Nairobi 2017
Subjects:	ADVERSE EFFECTS AGGREGATE DEMAND AGRICULTURAL OUTPUT AGRICULTURE ANNUAL GROWTH ASSETS AVERAGE OIL PRICE BALANCE OF PAYMENT BANK LENDING BANKING INDUSTRY BANKING SECTOR BILL BUDGET DEFICIT CAPITAL ACCOUNT CAPITAL MARKETS CAPITAL OUTFLOWS CENTRAL BANK COLLATERAL COMMERCIAL BANK COMMODITY PRICE COMPARATIVE ADVANTAGE COMPETITIVE ADVANTAGE COMPETITIVENESS CONSOLIDATION CONSUMER DURABLES CONSUMER PROTECTION CONSUMERS CONSUMPTION CONSUMPTION EXPENDITURE CORE INFLATION COSTS CREDIBILITY CREDIT CURRENCY FLOWS CURRENCY INFLOWS CURRENCY SUBSTITUTION CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CUSTOMS UNION DEBT DECENTRALIZATION DEMAND GROWTH DEMANDS DEPOSIT DEVELOPMENT DEVELOPMENT ASSISTANCE DOMESTIC CONSUMPTION DOMESTIC CURRENCY DOMESTIC MARKET DOMESTIC MONEY MARKETS DOMESTIC PRICES DOMESTIC SAVINGS DRAG ON GROWTH ECONOMIC GROWTH ECONOMIC IMBALANCES ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC REGIONS ECONOMIES ECONOMIES OF SCALE ECONOMY EFFECTIVE EXCHANGE RATE EURO ZONE EXCHANGE EXCHANGE RATE STABILITY EXCHANGE RATE VOLATILITY EXCHANGE RATES EXPECTATIONS EXPORT COMMODITIES EXPORT DIVERSIFICATION EXPORT EARNINGS EXPORT GROWTH EXPORT MARKETS EXPORT VOLUME EXPORTER EXPORTERS EXPORTS EXTERNAL BALANCE EXTERNAL BORROWING EXTERNAL DEFICITS EXTERNAL POSITION EXTERNAL SHOCK EXTERNAL TRADE FAILURES FINANCIAL MARKET FISCAL BALANCE FISCAL DEFICIT FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FOOD PRICES FORECASTS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE INFLOWS FOREIGN EXCHANGE RATES FOREIGN EXCHANGE RESERVES FREE TRADE GDP GDP PER CAPITA GOODS GOVERNMENT BORROWING GOVERNMENT EXPENDITURES GOVERNMENT SECURITY GROSS DOMESTIC PRODUCT GROWTH RATE HIGH INFLATION IMBALANCES IMPORT IMPORT CONTENT IMPORT GROWTH IMPORT LICENSING INCENTIVES INCOME INCOME GROUPS INFLATION INFLATIONARY PRESSURE INPUTS INTEREST INTEREST RATE INTEREST RATE DIFFERENTIAL INTEREST RATE HIKES INTEREST RATE POLICY INTERNATIONAL MARKETS INVESTMENT LAGS LENDING LEVERAGE LIQUIDITY MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MAJOR CURRENCIES MARKET RATES MICRO-FINANCE INSTITUTION MONETARY AUTHORITIES MONETARY POLICY MONETARY UNION MONEY MONEY MARKET MONEY SUPPLY NATURAL RESOURCES NET EXPORTS NOMINAL EXCHANGE RATE OIL PRICE OUTCOMES PARALLEL MARKETS PAYMENTS PER CAPITA INCOME POTENTIAL OUTPUT POVERTY LEVELS POVERTY REDUCTION PRICE CEILINGS PRICE FLUCTUATIONS PRICE INCREASE PRICE OF OIL PRICES PRIVATE CONSUMPTION PRIVATE INVESTMENT PRIVATE SAVINGS PRODUCTION PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC INVESTMENT PUBLIC SPENDING QUOTAS RAPID GROWTH REAL APPRECIATION REAL EFFECTIVE EXCHANGE RATE REAL EXCHANGE RATE REAL EXCHANGE RATE APPRECIATION REGIONAL GROWTH REGULATORY FRAMEWORKS REGULATORY REFORM REMITTANCES RESERVE REQUIREMENTS REVENUE RISK SAVINGS SHORT-TERM INFLOWS SLOW GROWTH SLOWDOWN STABLE EXCHANGE RATE STRUCTURAL REFORMS SUPPLY CONSTRAINTS SURPLUS SURPLUS COUNTRIES TARIFF BARRIERS TARIFF REDUCTION TIGHT MONETARY POLICY TOTAL DEBT TOTAL IMPORT TOTAL REVENUE TRADABLE GOODS TRADE TRADE BALANCE TRADE BARRIERS TRADE DEFICIT TRADE LIBERALIZATION TRADE NEGOTIATIONS TRADING PARTNERS TREASURY BILL TRENDS UNCERTAINTIES UNEMPLOYMENT VALUE VALUE ADDED WAGES WEIGHT WORLD DEVELOPMENT INDICATORS WTO
Online Access:	http://documents.worldbank.org/curated/en/359501468045023401/Kenya-economic-update-walking-on-a-tightrope-rebalancing-Kenyas-economy-with-a-special-focus-on-regional-integration http://hdl.handle.net/10986/26666

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Summary:	In 2012, Kenya's economy has been on a tightrope. Policy makers have had to walk a fine line between stabilizing the economy and maintaining the growth momentum. While inflation has declined, the exchange rate stabilized, and the fiscal position improved, fundamental economic imbalances continue to make Kenya vulnerable to shocks. In the absence of economic and social turbulence, Kenya should grow at 5 percent in 2012 and 2013, which will still be substantially below its neighbors. Kenya has been benefitting from the integration and growth momentum in the East African Community (EAC), which has become one of the most vibrant economic regions in the world. However, despite impressive increases in trade between the five EAC partners in recent years, there is still a large untapped potential. EAC trade can increase several-fold if unnecessary restrictions in the trade of goods and services particularly nontariff barriers were removed.

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