Current Account in Kenya
Kenya - Current Account
The economy likely sustained a solid pace of growth in the final quarter: Private sector activity seems to have expanded robustly in October and November, despite losing some momentum from H1, while the arrival of the short rainy season likely boosted agricultural and hydro-powered electricity output. That said, a slowdown in remittance inflows, rising inflationary pressures—mainly owing to the adoption of the 8% VAT on fuel—and continued lackluster credit growth, which bode ill for household incomes, point to weaker private spending in the quarter. Moreover, although the introduction of the VAT has improved the fiscal account, the misalignment between overly optimistic revenue targets and the government’s spending plans raises concerns about its ability to satisfy its fiscal consolidation goals. In view of making debt repayments more manageable, the country is looking to roll over a syndicated loan worth USD 760 million and extend the maturity of the debt.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 | 12.51 | 0.0 % | Jan 16 |
| Exchange Rate | 101.8 | 0.05 % | Jan 16 |
| Stock Market | 0.2 | 0.0 % | Jan 16 |
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Economic News
Kenya: PMI rises in December
January 4, 2019
Private sector activity picked up in December, reflected by a rise in the Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank.
Kenya: Kenyan economy maintains robust pace in the third quarter
December 31, 2018
The latest national accounts data released by Kenya’s National Bureau of Statistics on 31 December showed that the economy grew at a strong pace again in the third quarter, despite losing some momentum from the previous quarter.
Kenya: Inflation inches up in December, remaining elevated on higher fuel and transport costs
December 31, 2018
Consumer prices rose 0.65% over the previous month in December, contrasting a 0.18% month-on-month decline in November.
Kenya: PMI declines in November
December 5, 2018
Private sector activity weakened slightly in November, reflected by a decline in the Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank.
Kenya: Central Bank leaves policy rate unchanged in November meeting
November 27, 2018
At its latest meeting held on 27 November, the Monetary Policy Committee (MPC) of Kenya’s Central Bank opted to keep the Central Bank Rate (CBR) on hold at 9.00%.
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