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1、Public Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedSpecial Focus on Poverty andDistributional Impacts ofFiscal Policy in Kenya 2025.World Bank GroupThis work is a product of the staff of The World Bank with external contributions.The findi

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5、 Bank,1818 H Street NW,Washington,DC 20433,USA;fax:202-522-2422;e-mail:pubrightsworldbank.org.TABLE OF CONTENTSABBREVIATIONS .iACKNOWLEDGEMENTS.iiEXECUTIVE SUMMARY.iiiTHE STATE OF KENYAS ECONOMY1.Recent Economic Developments .21.1 The global and regional economy .21.2 Recent developments in Kenya .2

6、1.3 The real economy .31.4 External sector.51.5 Monetary and financial-sector performance .71.6 Fiscal developments .82.Outlook and Risks.102.1 Outlook .102.2 Risks to the outlook and policy recommendations .13SPECIAL FOCUS3.Poverty and Distributional Impacts of Fiscal Policy in Kenya.163.1 Kenyas e