Kenya debt set to fall following period of prudency

15/06/2012 - Kenya property & investment news Posted by Bob Brunskill
Kenya debt set to fall following period of prudency
Kenya's economy is continuing to improve, according to a new report that shows it could dip below 40 per cent of Gross Domestic Product by the end of the 2014-15 financial year. The International Monetary Fund revealed that the government's prudent measures and fiscal policies could help reduce the national debt. This could also make purchasing property in the country more attractive as ministers free up more money for infrastructure investment. IMF resident representative Ragnar Gudmundsson told China Daily that Kenya is heading in the right direction. "The IMF thinks that based on current trends and efforts on fiscal consolidation, net public debt to GDP ratio will be below 40 per cent by the end of the 2014-2015 financial years," he explained to the news provider. It comes after the government announced plans for economic zones to be set up in Mombasa, Lamu and Kisumu to help encourage further business investment and job opportunities.