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Kenya Economy Watch
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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hisah wrote:Price down yet the oil shortage looms as KPRL and OMC faceoff... The politricks will be clear soon.
good signal for mbele iko sawa :)
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Directors to pay if firms cheat on tax #Tax_Evasion_Curbed #Shareholders_Protected_from_Directors_Misconduct >>> http://www.nation.co.ke/News/-/...8/-/w3etsaz/-/index.html
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Economy to grow by 6 per cent, says Moody's - http://www.nation.co.ke/.../-/16rc4az/-/index.html
Quote:Kenya's economic growth will be range-bound at 5 to 6 per cent in the period between 2013 to 2015, the global credit rating agency Moody's said on Friday.
Moody's which assigned Kenya a B1 sovereign rating in November 2012 said the country's growth outlook will be constrained by a weak public sector balance sheet.
"We expect growth to increase marginally to 5-6 per cent in 2013-15, boosted by elevated levels of investment," Moody's said in its June 14, 2013 report. Kenya's economy last year rose 4.7 per cent. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 6/14/2010 Posts: 520 Location: Nairobi
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hisah wrote:Economy to grow by 6 per cent, says Moody's - http://www.nation.co.ke/.../-/16rc4az/-/index.html
Quote:Kenya's economic growth will be range-bound at 5 to 6 per cent in the period between 2013 to 2015, the global credit rating agency Moody's said on Friday.
Moody's which assigned Kenya a B1 sovereign rating in November 2012 said the country's growth outlook will be constrained by a weak public sector balance sheet.
"We expect growth to increase marginally to 5-6 per cent in 2013-15, boosted by elevated levels of investment," Moody's said in its June 14, 2013 report. Kenya's economy last year rose 4.7 per cent. Good news for our economy.
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Rank: Elder Joined: 3/19/2013 Posts: 2,552
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Treasury’s huge funding gap points to higher cost of loansLet’s intensify the war against corruptionQuote:Youth unemployment is one of Kenya’s biggest headaches yet World Bank Reports show that more than 250,000 jobs are lost to corruption annually.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Cost of doing business to reduce, say manufacturers Manufacturers have welcomed this year’s Budget, saying it has paid attention to development of infrastructure that is central to manufacturing. According to the Kenya Association of Manufacturers chief executive Betty Maina, the Budget speech that was presented by Cabinet Secretary for the National Treasury Henry Rotich on Thursday highlighted several measures that are meant to improve the infrastructure which will lead to a reduction in the overall cost of doing business.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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World Bank Raises Kenya 2013 Growth Outlook on Higher Investment #Noted, Kenya poverty level has declined to as low as 34 percent today from 47 percent in 2005 http://www.bloomberg.com/news/2...n-higher-investment.html
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Rank: Elder Joined: 3/19/2013 Posts: 2,552
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Rank: Elder Joined: 3/19/2013 Posts: 2,552
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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World Bank roots for weaker shilling to boost exports “A 10-per cent depreciation of the shilling will improve the trade balance by 4.6 per cent in domestic currency terms or 5.6 per cent in foreign currency terms,” said the World Bank in the report titled Kenya Economic Update: Time to Shift Gears. “We need to let the Kenya Shilling depreciate gradually, not suddenly as happened in 2011. The fundamentals do not support a strong shilling. When you look at the current account, you find that at over 10 per cent, it is very high,” said Peter Wachira, senior investment manager at PineBridge Investments East Africa, in an earlier interview. “One of the important functions of the exchange rate is to correct trade imbalances. Other countries have devalued their currencies for the purposes of raising exports and curbing imports. We can also correct our trade imbalance by devaluing,” said an economist. http://www.businessdailyafrica....4/-/vmspuqz/-/index.html
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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mwekez@ji wrote:World Bank roots for weaker shilling to boost exports “A 10-per cent depreciation of the shilling will improve the trade balance by 4.6 per cent in domestic currency terms or 5.6 per cent in foreign currency terms,” said the World Bank in the report titled Kenya Economic Update: Time to Shift Gears. “We need to let the Kenya Shilling depreciate gradually, not suddenly as happened in 2011. The fundamentals do not support a strong shilling. When you look at the current account, you find that at over 10 per cent, it is very high,” said Peter Wachira, senior investment manager at PineBridge Investments East Africa, in an earlier interview. “One of the important functions of the exchange rate is to correct trade imbalances. Other countries have devalued their currencies for the purposes of raising exports and curbing imports. We can also correct our trade imbalance by devaluing,” said an economist. http://www.businessdailyafrica....4/-/vmspuqz/-/index.html Yet again this article appears a week later. So a weak KES will boost exports for a net importing nation?! 1+1 = 11 indeed... Debase KES, manufacturers get knocked by a higher import bill, inflation spikes, production dips, econ dips, job cuts, but hey exporters (horticulture etc) save the day... Really?! Zero sum game on that current account deficit issue. Remember that VAT bill has not been factored in i.e. its inflation effects.
What a fantastic idea to devalue the KES instead of coming up with practical fiscal policies and boosting manufacturing, infrastructure as well as agri economy.
Once again this is a hogwash article...$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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hisah wrote:mwekez@ji wrote:World Bank roots for weaker shilling to boost exports “A 10-per cent depreciation of the shilling will improve the trade balance by 4.6 per cent in domestic currency terms or 5.6 per cent in foreign currency terms,” said the World Bank in the report titled Kenya Economic Update: Time to Shift Gears. “We need to let the Kenya Shilling depreciate gradually, not suddenly as happened in 2011. The fundamentals do not support a strong shilling. When you look at the current account, you find that at over 10 per cent, it is very high,” said Peter Wachira, senior investment manager at PineBridge Investments East Africa, in an earlier interview. “One of the important functions of the exchange rate is to correct trade imbalances. Other countries have devalued their currencies for the purposes of raising exports and curbing imports. We can also correct our trade imbalance by devaluing,” said an economist. http://www.businessdailyafrica....4/-/vmspuqz/-/index.html Yet again this article appears a week later. So a weak KES will boost exports for a net importing nation?! 1+1 = 11 indeed... Debase KES, manufacturers get knocked by a higher import bill, inflation spikes, production dips, econ dips, job cuts, but hey exporters (horticulture etc) save the day... Really?! Zero sum game on that current account deficit issue. Remember that VAT bill has not been factored in i.e. its inflation effects.
What a fantastic idea to devalue the KES instead of coming up with practical fiscal policies and boosting manufacturing, infrastructure as well as agri economy.
Once again this is a hogwash article...  "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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murchr wrote:hisah wrote:mwekez@ji wrote:World Bank roots for weaker shilling to boost exports “A 10-per cent depreciation of the shilling will improve the trade balance by 4.6 per cent in domestic currency terms or 5.6 per cent in foreign currency terms,” said the World Bank in the report titled Kenya Economic Update: Time to Shift Gears. “We need to let the Kenya Shilling depreciate gradually, not suddenly as happened in 2011. The fundamentals do not support a strong shilling. When you look at the current account, you find that at over 10 per cent, it is very high,” said Peter Wachira, senior investment manager at PineBridge Investments East Africa, in an earlier interview. “One of the important functions of the exchange rate is to correct trade imbalances. Other countries have devalued their currencies for the purposes of raising exports and curbing imports. We can also correct our trade imbalance by devaluing,” said an economist. http://www.businessdailyafrica....4/-/vmspuqz/-/index.html Yet again this article appears a week later. So a weak KES will boost exports for a net importing nation?! 1+1 = 11 indeed... Debase KES, manufacturers get knocked by a higher import bill, inflation spikes, production dips, econ dips, job cuts, but hey exporters (horticulture etc) save the day... Really?! Zero sum game on that current account deficit issue. Remember that VAT bill has not been factored in i.e. its inflation effects.
What a fantastic idea to devalue the KES instead of coming up with practical fiscal policies and boosting manufacturing, infrastructure as well as agri economy.
Once again this is a hogwash article... Come on mates, currency devaluation will make our good cheaper to foreigners hence encouraging exports. It will also make imports expensive hence reducing import of unnecessary goods and services. This will be good for current account. …. and note the country is not applying currency devaluation in isolation. The country is encouraging local production, check the infrastructure developments and the improving production environment
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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Economic growth at even 5.4% in 2013 will be a tall order for digital gava. When the economy grows by 3% that is the level it is matching with the population growth.So in real terms when the economy grows at 5% real growth is at 2% when u exclude population growth. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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This is borrowed money the level of debt Kenya is taking is growing at an alarming rate; http://www.businessdaily...6/-/y371k2/-/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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In the budget speech by Treasury Secretary Rotich;he announced that the gava will be spending ksh.18 billion per month in repaying the public debt Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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@Ericsson, dont expect government to stop taking debt until ke-oil starts flowing when things will somehow change
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