External Debt in Kenya

Kenya External Debt | Economic News & Forecasts

Kenya - External Debt

The economy gained traction in the second quarter, reflecting an upturn in most sectors. Notably, hydro-powered electricity generation rose at a markedly swifter rate, thanks to heavy rainfalls, as did the agricultural sector, which accelerated at the fastest pace in two years. However, overall private sector activity lost traction in the third quarter compared to the previous two quarters, reflected by a lower PMI on average. Increased business uncertainty, owing to new fiscal year tax measures in Q3, will likely lead to a more moderate expansion compared to the second quarter. Meanwhile, confronted with growing popular opposition to the newly-imposed VAT on petroleum products, in late September parliament approved President Uhuru Kenyatta’s calls to halve it to 8%. While Kenyatta has announced budget cuts across all government departments to strengthen the country’s deteriorating fiscal metrics, the World Bank recently stressed the need for greater focus on reducing recurrent expenditures rather than development spending, which is likely to hurt the economy’s underlying growth potential.

Kenya - External Debt Data

2013  2014  2015  2016  2017  
External Debt (% of GDP)19.3  21.0  24.9  31.3  30.5  

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Kenya External Debt Chart

Kenya External Debt
Note: External debt as % of GDP
Source: World Bank

Kenya Facts

Bond Yield12.600.0 %Nov 09
Exchange Rate102.20.05 %Nov 09
Stock Market0.10.0 %Nov 09

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