Reduced imports of food and supplies for the nearly completed standard gauge railway project will help narrow the country’s current account deficit to about 5.8 per cent of the gross domestic product (GDP) by December supported by rising dollar inflows from remittances, tourism receipts, the Central Bank of Kenya (CBK) said.
The country’s current account deficit — the difference between the value of imports and exports — stood at 6.4 per cent in July in the wake of an upsurge of grain imports under a government subsidy programme to address a sharp rise in the cost of maize flour.
