Kenya proposes lavish spending amid missed revenue targets
Kenya’s Cabinet Secretary for National Treasury and Economic Planning Njuguna Ndung'u. Kenya’s National Treasury plans to raise government expenditure by 15.9 percent to Ksh3.66 trillion (about $29.2 billion) in the next financial year. PHOTO | FILE | NMG
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
Kenya’s National Treasury plans to raise government expenditure by 15.9 percent to Ksh3.66 trillion (about $29.2 billion) in the next financial year, anchored on a projected increase in tax revenue. But latest figures show that Kenya Revenue Authority (KRA) has failed to meet current targets.
The draft medium-term national Budget Policy Statement released this past week shows that the government plans to increase the budget size to $40.5 billion by 2026, supported by an expected sustained increase in tax revenue.
