Kenya
East Africa’s most sophisticated economy has been able to put together a string of commendable growth performances in recent years. While economic growth has been broad-based and the Kenyan economy is relatively diversified when compared with most other African peers, the country’s public debt position continues to raise concern.
Economic momentum eased during the early stages of 2019 due to a slowdown in agricultural sector growth. However, leading indicators point towards a pickup in activity more recently. Real GDP growth is still expected to remain strong this year, supported by ongoing momentum in the services sector and investment related to the government’s Big Four Agenda. The budget for the 2019/20 fiscal year attempts to direct resources towards President Uhuru Kenyatta’s Big Four development plan while also pursuing steady fiscal consolidation. (Source: Kenya Quarterly Update, published August 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-7.4 |
|
Consumer Price Index (% change y-o-y, avg) |
4.7 |
|
Current Account Balance (as a % of GDP) |
-4.9 |
|
Real GDP (annual % change) |
6.4 |
|
GDP per Capita, US$ |
1,709.8 |
|
Import Cover (months) |
4.9 |
|
Population, million |
51.4 |
| Total External Debt (as a % of GDP) |
33.7 |