Kenya has overcome Political and Fiscal shocks to achieve a stable outlook on its Long-Term Foreign and Local-Currency Issuer Default Rating. Fitch ratings which reviewed the outlook, also affirmed the IDR at B+, an indication Kenya is effectively implementing its fiscal consolidation plans and decline of government debt to GDP. Also on GDP, it is a trajectory statement that the country's debt will stabilize as well as the expected strengthening of GDP growth in 2018. Kenya got to the negative outlook following increased capital expenditure and government borrowing in support of large infrastructure projects under Kenya Vision 2030. The B+ rating further exhibits Kenya strong macroeconomic stability, which will be supportive of its medium-term growth outlook.

Source: The Star February 09, 2018 20:48 UTC