Kenya Economic Update, December 2012 : Kenya at Work, Energizing the Economy and Creating Jobs

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作者：

World Bank

来源地址：

http://hdl.handle.net/10986/26660

关键词：

ACCOUNTING;  AGGREGATE CONSUMPTION;  AGGREGATE DEMAND;  ASSETS;  AUCTION;  BALANCE OF PAYMENTS;  BANK LOANS;  BANK RATE;  BANKING SECTOR;  BANKING SYSTEM;  BASIS POINTS;  BID;  BOND;  BORROWERS;  BROAD MONEY;  BUDGET;  CAPITAL ACCOUNT;  CAPITAL BASE;  CAPITAL FORMATION;  CAPITAL INFLOWS;  CAPITAL MARKETS;  CENTRAL BANK;  COMMERCIAL BANKS;  CONSUMER DURABLES;  CONSUMER PRICE INDEX;  CONSUMPTION;  CONTINGENT LIABILITY;  CONTRACT;  CORE INFLATION;  CREDIBILITY;  CREDIT EXPANSION;  CREDIT GROWTH;  CURRENCY;  CURRENT ACCOUNT;  CURRENT ACCOUNT DEFICIT;  DEBT ACCUMULATION;  DEBT LEVEL;  DECLINE IN INFLATION;  DEMAND;  DEMAND FOR CREDIT;  DEPOSIT;  DEPRECIATION;  DISBURSEMENT;  DOMESTIC BORROWING;  DOMESTIC CONSUMPTION;  DOMESTIC CURRENCY;  DOMESTIC DEBT;  DOMESTIC INTEREST RATES;  DOMESTIC MARKET;  ECONOMIC GROWTH;  ECONOMIC SLOWDOWN;  EFFECTIVE EXCHANGE RATE;  EMERGING ECONOMIES;  EQUIPMENT;  EQUITY;  EQUITY MARKET;  EURO ZONE;  EXCESS LIQUIDITY;  EXCHANGE;  EXCHANGE RATE;  EXPENDITURE;  EXPORT COMPETITIVENESS;  EXPORT GROWTH;  EXPORTERS;  EXTERNAL DEBT;  EXTERNAL DEMAND;  EXTERNAL POSITION;  EXTERNAL SHOCKS;  FINANCE;  FINANCIAL INTERMEDIATION;  FINANCIAL MARKETS;  FINANCIAL SAVINGS;  FISCAL BALANCE;  FISCAL DEFICIT;  FISCAL POLICY;  FISCAL POSITION;  FIXED INVESTMENT;  FLEXIBLE EXCHANGE RATE;  FOOD PRICES;  FOREIGN CURRENCY;  FOREIGN DIRECT INVESTMENT;  FOREIGN EXCHANGE;  FOREIGN EXCHANGE MARKET;  FOREIGN FINANCING;  FOREIGN INTEREST;  FOREIGN INVESTMENT;  FOREIGN INVESTORS;  FUTURE;  GLOBAL DEMAND;  GLOBAL ECONOMY;  GOOD;  GOVERNMENT EXPENDITURE;  GOVERNMENT POLICIES;  GOVERNMENT REVENUE;  GOVERNMENT SECURITIES;  GROSS DOMESTIC PRODUCT;  GROWTH RATE;  HIGH INFLATION;  HOLDING;  HUMAN RESOURCE;  IMBALANCES;  IMPORT;  IMPORT PRICES;  INCOME TAX;  INFLATION;  INFLATION ENVIRONMENT;  INFLATION EXPECTATION;  INFLATION RATE;  INFLATION RATES;  INFLATIONARY PRESSURE;  INFRASTRUCTURE INVESTMENTS;  INSTRUMENTS;  INSURANCE;  INTEREST;  INTEREST PAYMENTS;  INTEREST RATE;  INTEREST RATE REGIME;  INTEREST RATE SPREAD;  INTEREST RATE VOLATILITY;  INTERNATIONAL INVESTORS;  INTERNATIONAL MARKETS;  INTERNATIONAL MONEY;  INTERNATIONAL MONEY MARKETS;  INTERNATIONAL PRICES;  INVESTING;  INVESTMENT OPPORTUNITIES;  INVESTMENTS IN GOVERNMENT SECURITIES;  INVESTOR;  INVESTOR CONFIDENCE;  LABOR FORCE;  LAND REFORM;  LAND VALUES;  LENDING;  LEVY;  LOAN;  LOCAL BOND MARKET;  MACROECONOMIC CONDITIONS;  MACROECONOMIC ENVIRONMENT;  MACROECONOMIC INDICATORS;  MACROECONOMIC INSTABILITY;  MACROECONOMIC POLICIES;  MACROECONOMIC SHOCK;  MACROECONOMIC STABILITY;  MACROECONOMIC VOLATILITY;  MARKET;  MARKET PARTICIPANTS;  MARKET TRADING;  MONETARY AGGREGATES;  MONETARY FUND;  MONETARY POLICY;  MONEY MARKET;  MONEY MARKET RATES;  NATIONAL SECURITY;  OIL PRICES;  OPEN MARKET;  OPEN MARKET OPERATIONS;  PENSION;  POLITICAL RISKS;  PORTFOLIO;  PORTFOLIO FLOWS;  POVERTY;  POVERTY REDUCTION;  PRIVATE CREDIT;  PRIVATE INVESTORS;  PRIVATE SECTOR CREDIT;  PUBLIC DEBT;  PUBLIC INVESTMENT;  REAL APPRECIATION;  REAL EFFECTIVE EXCHANGE RATE;  REAL EXCHANGE RATE;  RECESSION;  RECURRENT EXPENDITURE;  RELATED SHOCKS;  REMITTANCES;  REPAYMENT;  RESERVES;  RETURN;  REVENUE;  SAVINGS RATE;  SECURITIES EXCHANGE;  SECURITY;  SHARE;  SHORT TERM INTEREST RATES;  SHORTFALL;  STOCK;  STOCK EXCHANGE;  STRUCTURAL REFORMS;  SUPPLY;  SUPPLY SIDE;  TAX;  TIGHT MONETARY POLICY;  TOTAL CREDIT;  TRADE CREDIT;  TRADE SECTORS;  TRADING;  TRADING PARTNERS;  TRANSACTION;  TRANSACTION COST;  TRANSACTIONS;  TREASURY;  TREASURY BILL;  TREASURY BILL RATE;  TURNOVER;  UNCERTAINTY;  WEALTH CREATION;  WORKING CAPITAL;  WORLD CURRENCIES;  Report;  Rapport;  Informe; 

年份：

2012

出版地：

Washington,USA

语种：

English

摘要：

Kenya withstood another difficult year in 2012 as policy tightening and weaker global demand slowed economic activity. With decisive fiscal and monetary policies, the government managed to restore confidence in Kenya's medium term prospects. Kenya's growth rate is still below its potential and its peers, external imbalances remain which threaten its future growth, and the pace of economic growth is not generating enough modern sector wage jobs. With the passage of the new constitution in 2010 and its implementation, stronger institutions are emerging, putting Kenya on a sound footing ready to take off. In the very short term, what remains to be done is for Kenya to deliver a credible and peaceful election in March 2013, and thereafter a smooth transfer of power. In the medium term, Kenya will need to start building a stronger foundation for growth, and undertake structural reforms to correct the external imbalances. To generate more jobs for the burgeoning educated youth population, Kenya will also need to reduce the transaction cost for firms, by reducing job-smothering corruption and the cost of doing business (particularly in transport and energy).