KIPPRA successfully held a stakeholder’s roundtable forum whose aim was to present a summary of three papers being developed at the institute’s macroeconomics department and receive feedback from stakeholders towards improving the models. The papers are KIPPRA-Treasury Macroeconomic Model (KTMM), The Kenya Supply Side Model and The County Revenue Forecasting and Budget Allocation Framework. The forum was held on 26th October 2022 in Nairobi.
KIPPRA Policy Analyst Dr. James Ochieng opened the forum and thanked all the participants for honoring the Institute’s invitation. Dr Ochieng’ gave the opening remarks on behalf of KIPPRA Executive Director Dr Rose Ngugi who noted that KIPPRA embraces engagement with stakeholders at every stage of undertaking research as stakeholders’ views help to focus the institute’s research to areas of policy interest and make the research output impactful in guiding policy direction.
KIPPRA Senior Policy Analyst Mr. Benson Kiriga took stakeholders through a summary of the three papers.
The KIPPRA-Treasury Macroeconomic Model (KTMM) is a macroeconomic model for the Kenyan economy used for forecasting macroeconomic indicators. This model is to be reviewed with additional data and variables; and extended to include county level data and modelling. The Kenya Supply Side Model on the other hand aims to complement the existing KTMM model which is a demand side general equilibrium model, to also capture supply side factors, which are increasingly becoming important in driving the economy, and capture sectors such as agriculture, manufacturing, services, mining, ICT, public administration, among other sectors.
The County Revenues Forecasting and Budget Allocation Framework aims at supporting counties on modelling and forecasting their revenues and offer a framework they can utilize for undertaking their budget allocations to sectors. Currently, counties lack these frameworks, which are key in discharging their mandate. The institute will first start with one or two counties and gradually expand to others.
The roundtable came to a close with plenary discussions and closing remarks from KIPPRA Policy Analyst Ms Hellen Chemyongoi. The forum was attended by 19 participants representing state and non-state actors and the institute received invaluable input from the stakeholders.