Kenya’s fiscal deficit to fall to 7.2% of GDP in 2018/19 financial year

Kenya’s fiscal deficit is projected to fall to 7.2% of GDP in the financial year to the end of June, from 8.9% in the previous period, the Treasury said in a draft budget policy statement.

The government has been criticised for failing to cut borrowing, after ramping up debt in the past five years to fund a range of ambitious infrastructure projects, including a modern railway line.

The deficit was expected to fall further to 6% of GDP in the 2018/19 (July-June) financial year, the Treasury said.