Kenya's current account deficit widens to 5.8 pct in February

Kenya's current account deficit widened to 5.8 percent of GDP in the year to February from 5.5 percent the same time a year earlier, the finance ministry said.

The Treasury blamed a 5.6 percent fall in the value of exported goods, a 3.3 percent increase in goods imports and other unspecified income drops. The drop in value of goods exports and the rise in imports more than offset a 3.6 jump in service exports, the ministry said.

The overall balance of payments swung to a deficit of $6.7 million during the year ended February from a surplus of $112.4 million in the year to February 2016, the ministry said.

The Kenyan shilling has been broadly stable against the dollar for most of this year and foreign exchange reserves have risen to record highs.

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