Kenya’s current account deficit widened to 5.4 percent of GDP in the year to October from 4.8 percent a year earlier on the back of a bigger oil and industrial goods import bill.
The year-on-year expansion of the deficit is also attributed to the base effect where last year oil prices had fallen to multi-year lows due to low demand on Covid travel restrictions, while local factory activity had also been curtailed by the Covid prevention restrictions.
