Current Account in Kenya
Kenya - Current AccountFollowing 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
|Current Account (% of GDP)||-8.1||-9.7||-6.8||-5.1||-6.8|
5 years of economic forecasts for more than 30 economic indicators.
Kenya Current Account Chart
Source: Central Bank of Kenya
|Bond Yield||12.51||0.0 %||Feb 21|
|Exchange Rate||110.2||0.05 %||Feb 21|
|Stock Market||0.1||0.0 %||Feb 21|
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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.
January 31, 2019
Consumer prices increased 0.35% over the previous month in January, following a 0.65% month-on-month rise in December.
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%.
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.
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.