Kenya’s fiscal deficit to drop to 5.7 % of GDP

Kenya’s budget deficit is expected to drop to 5.7 per cent of GDP in its 2018/19 (July-June) fiscal year from 7.2 per cent this fiscal year, budget estimates sent to parliament by the Treasury, showed on Monday.

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The East African nation has been under pressure from bodies such as the International Monetary Fund to cut its gaping budget deficit.

The deficit peaked at 9.1 per cent of economic output in the 2016/17 fiscal year.

NAN

 

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