Kenya aims to cut external, fiscal deficits

Kenya’s economy is expected to grow 6.1 per cent in 2016 and the government wants to trim ballooning budget and current account deficits to steady the economy, finance minister has said.

Kenya set a budget deficit target of 8.7 per cent for the 2015/2016 fiscal year starting July, unnerving some investors who were also uneasy about Kenya’s current account deficit, which stood at above 8 per cent.