Current Account in Kenya
Kenya - Current Account
Following a likely moderation in the final quarter of last year, the economy appears to have entered 2019 on a slightly less favorable note. A continued slowdown in remittance inflows, coupled with higher inflationary pressures and a moderation in credit availability in the quarter, likely curbed private spending in Q4. Turning to 2019, the PMI lost ground in January, signaling a weaker pace of expansion in private sector activity. Moreover, the agricultural sector will likely see a fall in output in the coming months owing to the end of the rainy season. On the debt sustainability front, the government plans to refinance the first tranche of maturing Eurobonds—worth USD 750 million—and to raise funds for infrastructure spending through a USD 2.5 billion Eurobond issuance by end-June. Moreover, the country is close to securing an agreement with the IMF on a new standby loan facility, which should also help to bring the public debt burden onto a more sustainable path.Kenya - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -8.1 | -9.7 | -6.8 | -5.1 | -6.8 |
Kenya Current Account Chart
Source: Central Bank of Kenya
Kenya Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 12.45 | 0.0 % | Mar 11 |
| Exchange Rate | 99.7 | 0.05 % | Mar 11 |
| Stock Market | 0.2 | 0.0 % | Mar 11 |
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Economic News
Kenya: PMI falls to 15-month low in February
March 5, 2019
Business conditions in the Kenyan private sector improved only modestly in February, with activity in the sector growing at the weakest pace in 15 months.
Kenya: Inflation continues to slide in February
February 28, 2019
Consumer prices rose 0.82% over the previous month in February, following a 0.35% month-on-month increase in January.
Kenya: PMI falls in January on softer growth in new orders
February 5, 2019
The Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank, fell to 53.2 in January from 53.6 in December.
Kenya: Inflation declines in January on lower oil prices and stronger shilling
January 31, 2019
Consumer prices increased 0.35% over the previous month in January, following a 0.65% month-on-month rise in December.
Kenya: Central Bank holds rate steady at first meeting of the year
January 28, 2019
At its latest meeting held on 28 January, the Monetary Policy Committee (MPC) of Kenya’s Central Bank kept the Central Bank Rate (CBR) at 9.00%.
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