Kenya Economic Update, April 2018, No. 17 : Policy Options to Advance the Big 4
After multiple headwinds dampened growth in 2017, a nascent rebound in economic activity in Kenya is gaining momentum. Notwithstanding the projected rebound in economic activity risks are tilted to the downside. The Government of Kenya has outlined...
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| Format: | Report |
| Language: | English |
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World Bank, Nairobi
2018
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| Online Access: | http://documents.worldbank.org/curated/en/327691523276540220/Kenya-economic-update-policy-options-to-advance-the-Big-4-unleashing-Kenya-s-private-sector-to-drive-inclusive-growth-and-accelerate-poverty-reduction http://hdl.handle.net/10986/29676 |
| Summary: | After multiple headwinds dampened growth
in 2017, a nascent rebound in economic activity in Kenya is
gaining momentum. Notwithstanding the projected rebound in
economic activity risks are tilted to the downside. The
Government of Kenya has outlined four big priority areas for
the next five years. These are agricultural and food
security, affordable housing, increased share of
manufacturing, and universal health coverage. Support from
the public and more importantly the private sector will be
required to achieve the big 4. Specific measures to create
fiscal room to support the big 4 can include: enhancing
domestic revenue mobilization through the rationalization of
tax exemptions; slowing the pace of expansion of recurrent
spending; and improving the efficiency of spending. Boosting
agricultural productivity and food security will require
re-allocating more resources to agriculture and improving
the efficiency of current spending in the sector. To
eradicate poverty by 2030, Kenya will need a combination of
higher growth, more inclusive growth, and growth that is
increasingly driven by the private sector and translates
into more rapid poverty reduction. |
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