Kenya will target a budget deficit of 4.9 per cent of GDP in the 2026/27 fiscal year from July to June, a senior finance ministry official said on Wednesday, keeping it broadly in line with the 4.8 per cent forecast for this financial year.
The East African nation has been struggling with heavy debt repayments in recent years after it ramped up borrowing in the period since 2013 to fund infrastructure projects, forcing the government to try to maintain a fiscal consolidation path.
We really need to focus on fiscal sustainability, Chris Kiptoo, the principal secretary at the Ministry of Finance, told a budget preparation event.
