In-Depth Analysis
Kenya
Kenya has exhibited a volatile economic growth performance over the past decade, partly due to the reliance on hydropower, the fact that most agricultural activities remain rain-fed, and the knock-on effect of poor harvests on consumer spending. Our political risk rating has been downgraded to low tending moderate because of election-related tensions.
An economic recovery is well underway in Kenya, with the latest GDP figures reflecting strong growth momentum while leading indicators suggest that this momentum will be maintained. One notable source of uncertainty relates to ongoing negotiations with the IMF, and the prospects of a follow-up programme being approved before the extended review period ends mid-September. Meanwhile, the country’s economic policy will be more focused under the ‘Big Four Plan’ as President Kenyatta, unencumbered by the need to ensure future election, attempts to cement his legacy. (Source: Kenya Quarterly Update, published August 2018.)
Macroeconomic Data
(2017)
|
Fiscal Balance (as a % of GDP) |
-9.0 |
|
Consumer Price Index (% change y-o-y, avg) |
8.0 |
|
Current Account Balance (as a % of GDP) |
-6.7 |
|
Real GDP (annual % change) |
4.9 |
|
GDP per Capita, US$ |
1,507 |
|
Import Cover (months) |
4.6 |
|
Population, million |
49.7 |
| Total External Debt (as a % of GDP) |
33.2 |