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© 1998 International Monetary Fund

August 1998

IMF Staff Country Report No. 98/66

Kenya: Selected Issues and Statistical Appendix

This Selected Issues and Statistical Appendix report on 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 and do not necessarily reflect the views of the Government of Kenya or the Executive Board of the IMF.

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International Monetary Fund

Washington, D.C.

INTERNATIONAL MONETARY FUND

KENYA

Selected Issues and Statistical Appendix

Prepared by a staff team consisting of G.E Gondwe (head), A. Georgiou, and D, Cowen (all AFR), A. Schwidrowski (FAD), and D. Andrews (PDR)

Approved by the African Department

May 18, 1998

Contents

  • Basic Data

  • I Public Expenditure Management and Control

    • A. Introduction and Background

    • B. Framework for Expenditure Management and Control

      • Main rules in the Financial Regulations

      • Amendments to the approved budget

    • C. External Factors Weakening Budget Implementation and Corrective Efforts

    • D. Conclusion

  • II. Monetary Policy and Financial Sector Issues

    • A. Monetary Policy Framework

      • Issues of monetary control

      • The state of markets

      • Monetary aggregates and financial programming considerations

  • B. Banking Supervision Issues

    • Structure of the financial sector

    • Bank supervision practices

    • Portfolio quality and related issues

  • Text Figures

  • 1. Inflation and Change in M3 and M4, December 1993–March 1998

  • 2. Velocity of M3 and M4, January 1993–March 1998

  • 3. Change in Velocity, December 1993–March 1998

  • 4. Actual and Simulated Inflation, January 1994–March 1998

  • Statistical Appendix Tables

  • 1. Gross Domestic Product by Origin at Constant Prices, 1991–96

  • 2. Gross Domestic Product by Origin at Current Prices, 1991–96

  • 3. Expenditure on Gross Domestic Product at Constant Prices, 1991–96

  • 4. Expenditure on Gross Domestic Product at Current Prices, 1991–96

  • 5. Gross Domestic Product, GDP Deflator, Population, and Real per Capita Income, 1987–96

  • 6. Gross Fixed Capital Formation at Current Prices, 1991–96

  • 7. Sales of Agricultural Production to the Marketing Boards, 1991–96

  • 8. Value of Agricultural Production Sold to the Marketing Boards, 1991–96

  • 9. Average Prices to Producers for Selected Commodities, 1991–96

  • 10. Quantity Index of Manufacturing Output, 1991–96

  • 11. Selected Statistics on Construction Activity, 1991–96

  • 12. Energy Supply-and-Demand Balances, 1991–96

  • 13. Employment by Industry and Sector, 1991–96

  • 14. Average Wage Earnings per Employee by Industry and Sector, 1991–96

  • 15. Employment and Earnings in the Public Sector, 1991–96

  • 16. Consumer Price Indices, December 1994–March 1998

  • 17. Average Consumer Price Indices for Urban Centers, 1992–97

  • 18. Central Government Fiscal Operations, 1991/92–1996/97

  • 19. Central Government Revenue and Grants, 1991/92–1996/97

  • 20. Economic Classification of Central Government Expenditure and Net Lending, 1991/92–1996/97

  • 21. Functional Classification of Central Government Expenditure and Net Lending, 1991/92–1996/97

  • 22. Local Government Finances, 1991/92–1996/97

  • 23. Domestic Debt of the Central Government, 1991/92–1996/97

  • 24. Operating Profits and Cash Position of Selected Public Enterprises, 1992/93–1996/97

  • 25. Central Bank of Kenya Balance Sheet, June 1993–December 1997

  • 26. Monetary Survey, June 1993–December 1997

  • 27. Commercial Bank’s Liquidity, June 1993–December 1997

  • 28. Nonbank Financial Institutions’ Liquidity, June 1993–December 1997

  • 29. Principal Interest Rates, June 1993–December 1997

  • 30. Distribution of Commercial Bank Credit to Private Sector, December 1992–December 1997

  • 31. Balance of Payments, 1992–97

  • 32. Tea Production and Exports, 1992–97

  • 33. Coffee Production, Consumption, and Exports 1991–96

  • 34. Commodity Composition of Trade, 1992–97

  • 35. Trade Volumes and Prices, 1992–97

  • 36. Value, Unit Value, and Volume of Major Exports, 1992–97

  • 37. Destination of Exports, 1992–97

  • 38. Commodity Composition of Imports, 1992–97

  • 39. Imports by Country of Origin, 1992–97

  • 40. Changes in Import Tariff Structure, 1987/88–1996/97

  • 41. External Services, Income, and Transfer Accounts, 1992–97

  • 42. Public and Publicly Guaranteed External Debt Outstanding, 1992–97

  • Appendix I. Summary of Tax System as of End-April 1998

  • Appendix II. Exchange Arrangement and Exchange Restrictions

Kenya: Basic Data

Area, population, and GDP per capita

Area 582,600 square kilometers

Population

Total (mid-1996 estimate) 27.4 million

Annual growth rate (for period 1987-96) 2.8 percent

GDP per capita (1996) SDR 227

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Fiscal year starting July 1 of the calendar year indicated.

Kenya: Basic Data (concluded)

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In percent of begining-of-period broad money stock.

Public medium- and long-term debt, including the Fund.

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Kenya: Selected Issues and Statistical Appendix
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International Monetary Fund