Current Account in Kenya
Kenya - Current Account (billions of U.S. Dollars)Growth surged to an eight-year high in 2018, with ample rainfall buoying the agricultural and electricity generation sectors. Momentum, however, likely waned at the outset of 2019, as delay of the long rainy season curtailed agricultural output, while tighter credit conditions weighed on private consumption and investment. In other news, USD 2.1 billion was recently raised in an oversubscribed dual-tranche Eurobond issue, which will be used to fund infrastructure projects and general budgetary expenses, along with partially or wholly refinancing a USD 750 million Eurobond due to mature in June. Moreover, with revenue collection trailing below target, the president is seeking to enforce a 1.5% housing fund levy on the salaries of employees and employers alike, as part of efforts to build affordable housing under the Big Four Agenda. The policy has sparked uproar, however, with enforcement on hold until the Labor Court hears a case filed by the Consumers Federation of Kenya.
Kenya - Current Account (USD bn) Data
|Current Account Balance (USD bn)||-4.5||-6.0||-4.3||-3.7||-5.1|
5 years of economic forecasts for more than 30 economic indicators.
Kenya Current Account (USD bn) Chart
Source: Central Bank of Kenya
|Bond Yield||12.05||0.0 %||Jun 14|
|Exchange Rate||111.9||0.05 %||Jun 14|
|Stock Market||0.1||0.0 %||Jun 13|
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June 5, 2019
Business conditions in the Kenyan private sector improved modestly in May after deteriorating in April.
May 31, 2019
Consumer prices fell 0.07% over the previous month in May, contrasting a 3.51% month-on-month upturn in April.
May 27, 2019
At its meeting on 27 May, the Monetary Policy Committee (MPC) of Kenya’s Central Bank held the benchmark lending rate at 9.00%, where it has been since July 2018.
Kenya: Business conditions in the Kenyan private sector worsen for the first time since November 2017
May 6, 2019
Business conditions in the Kenyan private sector deteriorated for the first time in one-and-a-half years in April, reflected by a drop in the Purchasing Managers’ Index (PMI)—produced by IHS Markit and Stanbic Bank—below the critical 50-point threshold separating expansion from contraction.
April 30, 2019
Consumer prices climbed markedly over the previous month in April, rising 3.51% month-on-month.