Description: Kenya Economic Update, June 2014, No. 10 : Take Off Delayed?

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Kenya Economic Update, June 2014, No. 10 : Take Off Delayed?

Kenya's economy remains strong, enabling it to weather the headwinds it faces. Maintenance of macroeconomic stability and adherence to credible policies has underpinned Kenya's growth in the past. Continuing to adhere to these policies wi...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	AGGREGATE DEMAND AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTION AGRICULTURE ANNUAL GROWTH ASSET QUALITY BALANCE OF PAYMENT BALANCE OF PAYMENTS BALANCE OF TRADE BANK ACCOUNTS BANK RATE BANKING SYSTEM BASIS POINTS BUDGET DEFICIT BUFFERS CAPITAL ACCOUNT CAPITAL FLOWS CAPITAL FORMATION CAPITAL GOODS CAPITAL INFLOWS CENTRAL BANK COMMERCIAL BANK COMMERCIAL BANK LENDING COMMERCIAL BANKS COMMODITY PRICES CONSOLIDATION CONSUMER DURABLES CONSUMER PRICE INDEX CONSUMPTION SPENDING CORE INFLATION CPI CREDIT GROWTH CREDITORS CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT REPAYMENT DEFICIT FINANCING DEPOSIT DEPOSITS DEVOLUTION DISBURSEMENTS DOMESTIC CONSUMPTION DOMESTIC DEBT DOMESTIC DEMAND DOMESTIC INTEREST RATES DOMESTIC MONEY MARKET DOMESTIC SECURITY ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC PERFORMANCE ELECTRICITY GENERATION EMPLOYMENT ENVIRONMENTAL ENVIRONMENTAL PROTECTION EQUIPMENT EQUITIES EURO ZONE EUROBOND EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPORTS EXTERNAL BALANCE EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL DEMAND EXTERNAL FACTORS EXTERNAL FINANCE EXTERNAL POSITION EXTERNAL PRESSURES EXTREME POVERTY FEDERAL RESERVE FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL TRANSACTIONS FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FISCAL POSITION FIXED CAPITAL FOOD PRICES FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN FINANCING FOREIGN INTEREST GDP GDP PER CAPITA GLOBAL ECONOMY GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT PAPER GOVERNMENT REVENUE GOVERNMENT SECURITIES GROSS FIXED CAPITAL FORMATION HEALTH SERVICES HOLDINGS IMPORT IMPORTS INCOME TAX INFLATION INFLATION EXPECTATIONS INFLATION RATE INFLATION RATES INFLATIONARY EXPECTATIONS INFLATIONARY PRESSURES INSURANCE INTEREST PAYMENTS INTEREST RATE INTEREST RATE VOLATILITY INVENTORIES INVENTORY INVESTING INVESTMENT ACTIVITIES INVESTMENT DEMAND INVESTMENT EXPENDITURE INVESTMENT FLOWS LAWS LEVY LIQUIDITY LOAN LOCAL GOVERNMENT LONG-TERM CAPITAL LONG-TERM INTEREST LONG-TERM INTEREST RATE LONG-TERM INTEREST RATES M1 M2 M3 MACROECONOMIC ENVIRONMENT MACROECONOMIC INSTABILITY MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET INTEREST RATES MONETARY AGGREGATES MONETARY CONDITIONS MONETARY POLICY MONEY MARKET MONEY SUPPLY MONEY TARGET NATIONAL SECURITY NATIONAL TREASURY NATURAL RESOURCES NET EXPORTS NOMINAL WAGE NONBANK FINANCIAL INSTITUTIONS NONBANK INSTITUTIONS NONPERFORMING LOANS OIL OIL PRICES PENSION PENSIONS PER CAPITA INCOME POLITICAL UNCERTAINTIES POLITICAL UNCERTAINTY PORTFOLIO PORTFOLIO FLOWS PRIVATE CONSUMPTION PRIVATE CREDIT PRIVATE CREDIT GROWTH PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PRODUCTION COSTS PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC EXTERNAL DEBT PUBLIC INVESTMENT PUBLIC POLICY QUALITY OF ASSETS RATE OF GROWTH REAL GDP REAL WAGES RECURRENT EXPENDITURE RECURRENT EXPENDITURES REMITTANCE REMITTANCES REPO REPO RATES RESERVE MONEY RETAIL PRICES RETIREMENT RISK AVERSE SAVINGS SECURITIES EXCHANGE SHORT-TERM INTEREST RATES SHORTFALL SHORTFALLS SLOW GROWTH STABLE EXCHANGE RATES STOCKS STRUCTURAL REFORMS SURPLUS TAX TAX COLLECTION TAX COLLECTIONS TAX REVENUE TOTAL REVENUE TRADE BALANCE TRADING TRADING PARTNERS TRANSMISSION MECHANISM TRANSPORT TREASURY BILL URBAN DEVELOPMENT VALUE ADDED VULNERABILITY TO SHOCKS WAGES WORLD DEVELOPMENT INDICATORS
Online Access:	http://documents.worldbank.org/curated/en/2014/06/19768790/take-off-delayed-kenyas-economy-facing-headwinds-2014-special-focus-delivering-primary-health-care-services-vol-2-2 http://hdl.handle.net/10986/20028

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Summary:	Kenya's economy remains strong, enabling it to weather the headwinds it faces. Maintenance of macroeconomic stability and adherence to credible policies has underpinned Kenya's growth in the past. Continuing to adhere to these policies will help the country surmount domestic shocks, allowing it to grow 4.7 percent a year in 2014 and 2015. Addressing the pressures emerging from fiscal expansion is a priority. The large public sector wage bill and devolution have reduced fiscal buffers and increased fiscal risks. Kenya's health outcomes are not commensurate with its aspirations of achieving middle income status. Global evidence indicates that investing in primary health care is the most cost-effective way to improve health outcomes. Key recommendations to stabilize and sustain a robust growth include: (a) deepening fiscal consolidation without reducing infrastructure spending; and (b) expanding the engines of growth to include not only consumption but also investments and exports. Key recommendations that can help Kenya improve the delivery of primary health care include: (a) focusing first on making existing public primary health care facilities operational; (b) building on partnerships with faith-based organizations and partner with the private sector; and (c) the use of fixed facilities, such as inpatient services in many health centers that are grossly underutilized.