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Kenya: CA deficit declines by 11%y/y to USD 4.4bn in year to March

  • Robust goods exports, lower oil import bill, more than offset sharp drop in services surplus
  • CA deficit estimated at 4.8% of GDP in 2020, seen marginally expanding to 5.1% of GDP in 2021
  • FDI inflows decline by 70% y/y

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