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Kenya can improve its balance of trade by weakening the shilling against major international currencies, the World Bank has asserted in a new report. The report said the trade balance would improve by making Kenya's exports cheaper in the international markets , imports relatively more expensive. It is the 2nd economic update report in as many months in which the World Bank is...
The World Bank projects that the Kenyan economy will grow by 5.7 per cent in 2013 supported by higher investment , low interest rates. The World Bank Kenya Economic Update launched Monday attributes the higher growth compared to 4.7 per cent in 2012 to a stable macroeconomic environment, the peaceful elections in March 2013 , , smooth transition of political power. The Gross Domest...
After their demands for higher pay sparked public outcry , protests, Kenyan MPs have agreed to a cut in pay - though their new wage is still more than 40 times the region's average income. The government's salaries , remuneration commission agreed with parliament that its members will get around US Dollars 75000 a year (pounds 48,000)- not the US Dollars 120000 legislators of the previ...
The shilling weakened yesterday on the back of oil importers buying dollars to pay for their supplies, but traders said the local currency could recover on tea exporters' inflows. Commercial banks quoted the shilling at 85.00/20 per dollar, weaker than Monday's close of 84.85/85.05. "The marginal decline was mainly attributed to demand from the energy Market as various bought dollars," said B...
Outlook for 2013-17 Uhuru Kenyatta , who was sworn in as Kenya's 4th president on April 9th , will serve a 5-year term. His Jubilee coalition will be the largest group in parliament. The new government will remain committed to pro-Industry reforms, but ongoing institutional restructuring , possible turf wars may lead to some delays. We expect real GDP growth to quicken from an ...
Data , charts: Quarterly data 2011 2012 2013 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr Prices Consumer prices (2000=100) 202.6 209.9 218.3 222.6 226.5 223.3 226.0 231.7 Consumer prices ( % change, year on year) 13.2 16.5 19.2 16.9 11.8 6.4 3.5 4.1...
Data summary: Global outlook Global outlook 2008 a 2009 a 2010 a 2011 a 2012 b 2013 c 2014 c 2015 c 2016 c 2017 c International assumptions ( %) World GDP growth 1.3 -2.3 3.9 2.6 2.1 2.1 2.8 2.9 2.9 2.9 US GDP growth -0.3 -3.1 2.4 1.8 2.2 2.1 2.5 2.4 2.3 2.4 EU27 GDP growth 0.2 -4.3...
Kenya : region outlook FROM THE ECONOMIST INTELLIGENCE UNIT POLITICAL STABILITY: The prospects for political stability have improved following the largely peaceful general election on March Fourth -- Kenya's 1st under the 2010 constitution. Uhuru Kenyatta emerged as the victor, by a 50.1 % to 43.3 % margin over Raila Odinga , on a high 86 % turnout, , was sworn in to serve a 5-ye...
NAIROBI, Kenya (AP) ? A government commission says Kenyan legislators have agreed to lower their salaries after public outcry , protests. The Salaries , Remuneration Commission said Wednesday they have agreed with parliament that its mem...
Parliamentarians on Tuesday agreed with the Salaries , Remuneration Commission (SRC) , the Parliamentary Service Commission (PSC) to a gross monthly salary of US Dollars 6300 after a deadlock in negotiations prompted several public protests against the elected politicians, Aljazeera reported. They will also get a US Dollars 59500 automobile grant , tax free mileage allowance , a pension as per ...
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