|Publisher||Controller of Budget, Kenya|
|Year of Publication||2013|
|Description||Despite the global economic crisis and domestic challenges, the 2012/2013 budget was conceived to
safeguard the domestic economy from the negative impact of the global economic crisis and translate the
developmental plans of the government unveiled in the Vision 2030 and the Medium Term Plan (MTP) into
tangible actions. It focuses on achieving fiscal consolidation and real growth of the economy and emphasizes
on stimulating entrepreneurial activity as well as setting up a sustainable framework for Kenyans with
creative tendencies to showcase their business expertise, build capacity and create jobs.
Data from the Kenya National Bureau of Statistics show that the GDP growth rate for July to December
2012 averaged 3.35 per cent compared to 4.3 per cent recorded over the same period in 2011. The inflation
rate for the period July to December averaged 4.96 per cent compared to 17.84 per cent over the same
period last year. The Kenya shilling has been quite stable in the last half-year exchanging at Kshs. 85.14
against the US dollar compared to Kshs 93.44 for the same period last year.