According to World Bank, Jubilee administration has scored some level of success in managing Kenya’s economy, but said it is still struggling in its commitment to the war against corruption.
The new survey by the Bretton Woods institution also graded President Uhuru Kenyatta’s administration relatively poorly in accountability and transparency,
Kenya’s economy grew rapidly in the first quarter of this year, contrary to what was seen in 2015. The economic boom is boosted by the recovery streaks witnessed in the tourism industry.
In the 2015 CPIA Results for Africa, the global lender ranked Uhuru Kenyatta’s government highly on its debt, fiscal and monetary and exchange rate policies.
The Government score for its management of the economy is above average, getting a CPIA (country and policy institutional assessment) score of 4.5 out of a maximum possible six for its debt and monetary exchange rate policy.
The Government’s fiscal, trade and financial policy got a CPIA score of four after the UhuRuto administration put in place measures to improve the business environment.
Last year, the country witnessed a stormy global economy characterised by an unfavourable currency exchange rate, scoring a growth of 5.6 per cent, up from 5.3 per cent in 2014.
In the first quarter Gross Domestic Report, it was found that the economy grew by 5.9 per cent more than five per cent in a corresponding period last year.
The growth stimulated an even further growth in infrastructural expenditure such as the Standard Gauge Railway (SGR), improved agricultural yields, and also improved productivity in the building and construction sectors.
However, the manufacturing industry failed to maximize advantage on the cheaper oil prices to boost its advancement. This is because it dramatically fell from 4.1 per cent previously to 3.6 per cent.
On the contrary, the transport sub-sector leveraged on the lower oil prices to expand at a faster pace of 8.4 per cent compared to 6.7 per cent last year.
Agriculture grew by 4.8 per cent compared to 2.9 per cent in Q1 2015. Construction, which had posted an impressive growth of 12.6 per cent last year, slowed down to post a growth of 9.9 per cent.
“The information and communication sector expanded by 9.7 per cent in the first quarter compared to 8.6 per cent growth in the same quarter of 2015.”
“The sustained growth in this sector has been on account of strong performance in mobile telephony. During the quarter under review, total mobile traffic increased by 16.9 per cent to stand at 10.2 billion minutes.”
The report was published by the Kenya National Bureau of Statistics on Thursday and it states that.
“The most notable improvement was a rebound in activities of accommodation and food services which expanded by 12.1 per cent in the period under review compared to a contraction of 11.4 per cent during the same quarter in 2015,”.
As election crawls in, Uhuru’s advancement and weakness may widen or narrow his chance of ruling Kenya next year depending on the perimeter in which the voters will use in judging him; improved Kenya’s economy or graft-free country. Since Kenyans apparently desire both, the president will himself a lot of good if he and his aides improve its war against graft.