Kenyan finances workplace sends warning sign over IMF fiscal targets

In its evaluation of the 2022-23 finances printed in May, the PBO raises concern that the fiscal deficit has gone “above the agreed levels over the medium term” with the IMF. “The expenditure increase that has necessitated expansion of the deficit is mostly in recurrent rather than development expenditure,” says the report by PBO, an advisory unit to lawmakers.

Kenya has been on a 38-month finance programme with the IMF since April 2021 which permits entry to credit score of $2.34b given that expenditure is stored below a decent rein and debt is minimize. The nation’s recurrent expenditure has been on an upward development for the previous 5 years, accounting for about 50% of the full finances for 2022-23.

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