Current account deficit drop boosts the shilling

Both tourism and diaspora remittances returned record inflows in 2018. FILE PHOTO | NMG

Kenya’s current account deficit shows the import-export gap narrowed further in January as receipts from agriculture, tourism and diaspora remittances outpaced import growth.

Latest data provided by the Central Bank of Kenya shows that the deficit as a percentage of GDP stood at 4.6 percent at the end of January, compared to 4.9 percent at the end of December 2018.

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Note: The results are not exact but very close to the actual.