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Kenya Economic Update : Turbulent Times for Growth in Kenya - Policy Options during the COVID-19 Pandemic (English)

The COVID-19 (coronavirus) global pandemic will have a large negative impact on the Kenyan economy. Even before being affected by the novel coronavirus, Kenya's economy had decelerated. The World Bank estimates that GDP growth in 2019 was about 5.6 percent, down from 6.3 percent in 2018. The COVID-19 (coronavirus) shock is expected to further reduce growth in 2020 with large impacts on services (transport, retail trade, tourism, events, leisure, etc.), industry (manufacturing and construction), and agriculture. The health system is facing an unprecedented challenge to contain the spread of COVID-19 (coronavirus) and care for the infected. In addition, measures taken to slow down the rate of infection, including home confinement, travel restrictions, the closure of schools and entertainment spots, the suspension of public gatherings and conferences, and a nightly curfew, are expected to affect both production and consumption across the economy.

Details

  • Document Date

    2020/04/01

  • Document Type

    Report

  • Report Number

    148076

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Kenya,

  • Region

    Africa,

  • Disclosure Date

    2020/04/29

  • Disclosure Status

    Disclosed

  • Doc Name

    Kenya Economic Update : Turbulent Times for Growth in Kenya - Policy Options during the COVID-19 Pandemic

  • Keywords

    social distance; vulnerable household; national health insurance fund; Growth and Opportunity Act; small and medium size enterprise; Micro, Small and Medium Enterprise; average tax rate; average corporate tax rate; policy option; fiscal deficit; liquidity support to bank; social safety net program; Public and Publicly Guaranteed; net export; healthcare system; private consumption; high poverty rate; corporate income tax; loss of life; test kit; real gdp; intensive care units; personal income tax; public debt stock; tax rate cut; public health policy; health care system; individual income tax; indirect tax rate; value added tax; Health policies; informal sector; pending bill; tax bracket; personal protective equipment; cash flow support; current account balance; current account deficit; nominal exchange rate; global food supply; removal of tax; cash reserve ratio; supply of labor; export of goods; economic growth rate; absence from work; million people; state-owned enterprise; fiscal consolidation effort; standard vat rate; income tax rate; tax on income; taxes on goods; lower tax rate; fiscal stimulus package; corporation tax rate; regional market integration; lower tax bracket; food value chain; private sector participant; global financial crisis; limited coverage; domestic economic activity; social assistance program; informal sector worker; cash transfer scheme; senior education specialist; lower interest rate; global supply chain; contribution of investment; port of entry; Homebased Work; Home Based Work; fiscal policy response; income tax relief; food supply chain; Fiscal Sustainability; agricultural output; global economy; turnover tax; global pandemic; epidemic curve; new cases; budget deficit; tax cut; capital expenditure; net lending; import volume; manufacturing export; expenditure pressures; hospital infrastructure; budgetary implication; expenditure savings; mobile payments; fiscal cost; expenditure increase; private investment; confirmed case; public finance; manufacturing sector; transit station; domestic financing; fiscal measure; aggregate demand; fiscal response; monetary policy; liquidity constraint; retail trade; turnover rate; global recession; fiscal framework; Social Protection; primary balance; supplementary budget

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Citation

Kenya Economic Update : Turbulent Times for Growth in Kenya - Policy Options during the COVID-19 Pandemic (English). Kenya economic update,no. 21 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/683141588084127834/Kenya-Economic-Update-Turbulent-Times-for-Growth-in-Kenya-Policy-Options-during-the-COVID-19-Pandemic