Kenya: Recent Economic Developments

December 15, 1995

Summary

This paper reviews economic developments in Kenya during 1990–95. Real GDP growth decelerated from 4.3 percent in 1990 to close to zero in 1992/93. Inflation accelerated from 12 percent in the 12-month period ended December 1989 to 34 percent in March 1993. The central government’s budget deficit increased from 6.7 percent in 1989/90 to 11.4 percent of GDP in 1992/93. Broad money growth (M2) accelerated from 21 percent in the 12-month period ended December 1991 to 36 percent in March 1993.

Subject: Civil service, Expenditure, Financial institutions, Foreign exchange, Imports, International trade, Labor, Treasury bills and bonds

Keywords: Africa, average earnings, Civil service, CR, enterprise, Europe, government, government construction project, government intervention, government ministry, government sector, Imports, ISCR, net government credit, PE sector, permanent secretary, public enterprise, reform program, Southern Africa, Treasury bills and bonds, Western Europe

Pages:
124
Volume:
1995
DOI:
https://doi.org/10.5089/9781451821031.002
Issue:
133
Series:
Country Report No. 1995/133
Stock No:
1KENEA0011995
ISBN:
9781451821031
ISSN:
1934-7685

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Notes

This report on recent economic developments in Kenya was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team amd do not necessarily reflect the views of the Government of Kenya, or the Executive Board of the IMF.

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