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KNBS data shows 50 per cent reduction in foreign investments and remittances - 4 Jan 2018 00:12

By: Dominic Omondi

: Money flowing into the country more than halved during the election period, latest official data shows. The quarterly report on balance of payment by the Kenya National Bureau of Statistics shows the 50 per cent reduction in financial inflows occurred between July and September 2017, at the time Kenyans went to the polls. “Net financial inflows more than halved from a surplus of Sh67.6 billion in the third quarter of 2016 to a surplus of Sh27.7 billion in the third quarter of 2017,” said the national statistician in the report released last week. The financial inflows included earnings from exports, debts, private investments and diaspora remittances. The drop in earnings also affected the country’s foreign currency reserves. “Gross official reserves decreased by 1.8 per cent from Sh830.6 billion as at end of September 2016 to Sh815.5 billion as at end of September 2017 translating to about 5.4 months of ...
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