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Running on one Engine Kenya’s uneven economic performance with a special focus on the port of Mombasa . World Bank Economic Team Presentation by Dr. Wolfgang Fengler. Press Briefing Norfolk Hotel Nairobi, June 3, 2010.

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Running on one EngineKenya’s uneven economic performance with a special focus on the port of Mombasa

World Bank Economic Team

Presentation by Dr. Wolfgang Fengler

Press Briefing

Norfolk Hotel

Nairobi, June 3, 2010

slide2

Kenya is recovering - slowly but surely. For 2010, the World Bank is revising its growth forecast upwards to 4.0 percent. For 2011, we project 4.9 percent, if no shocks occur.

  • However, Kenya is running on one engine.Over the last decade growth has been imbalanced, predominantly driven by domestic consumption fuelled by imports. Exports have been weak and non-tradable sectors, such as services and construction have performed strongly.
  • The Infrastructure deficit constrains exports and the port of Mombasa is still under-performing. Despite some improvements, port reforms have not kept up with the momentum in other African countries. It still takes 20 days to bring a container from Mombasa to Nairobi. This is longer than to ship the same container from Singapore to Mombasa.

Main messages

and kenya s ict revolution continues 20 mn phone connections 4 mn internet connections
… and Kenya’s ICT revolution continues: 20 mn phone connections; 4 mn internet connections
macroeconomic management has been strong inflation and interest rates declined sharply since 2008
Macroeconomic management has been strong: Inflation and interest rates declined sharply since 2008
manufacturing has been overtaken by transport communication and wholesale retail trade
Manufacturing has been overtaken by transport & communication and wholesale & retail trade
thank you

Thank You

http://www.worldbank.org/ke

For more information on this report and the World Bank’s Economic program in Kenya, please contact Wolfgang Fengler (wfengler@worldbank.org), Jane Kiringai (jkiringai@worldbank.org) or Andrew Roberts (aroberts@worldbank.org)