The exchange rate remained stable due to the narrowing current account deficit, from 5.0% of GDP in 2018 to 4.9% in 2019 thanks to increased transfers. Foreign exchange reserves rose from $9 billion in 2018 to $9.4 billion at the end of August 2019, equivalent to 6 months of imports, or more than the East African Community convergence criterion of 4.5 months. The fiscal deficit is estimated at 7.5% of GDP in 2019, down from 8.8% in 2017, thanks to ongoing fiscal consolidation and greater domestic resources mobilization.

The Kenyan economy has been mostly unfree for more than two decades. GDP growth over the past five years, however, has been robust, led by expanded consumer demand.

Absa Bank Kenya has announced that it has restructured over 50,000 loan facilities amounting to over Ksh 54 billion.

In a statement, the bank says loan relief programme covers all types of credit types including personal loans, mortgages, asset financing and business loans among others. Under this programme, customers qualify for an initial relief of up to three (3) months which can be further reviewed on a case by case basis. READ MORE..