Kenya’s current account deficit widened further in May on sustained pressure from high fuel and food import costs, which negated improved dollar inflows from remittances and agriculture exports.
The deficit as a percentage of GDP rose to 5.3 percent in the 12 months to May 2022 from 5.1 percent in April, piling more pressure on the shilling as it meant there was a higher demand for dollars in the local market to fund the rising imports.
