Failure to cut the budget deficit and stabilise debt level will be a negative for Kenya’s credit profile, global ratings agency Fitch Ratings has warned. The firm on Friday said effective implementation of a fiscal consolidation plan and stabilisation of debt-to -GDP ratio will lead to a positive rating.
“The impact on Kenya’s sovereign credit profile will depend on the authorities’ ability to deliver ambitious revenue increases and keep control of spending in an election year,” said the firm in new outlook.
