Elections, revenue target give Treasury CS a budget headache
The Treasury building in Nairobi, Kenya. Kenya's 2017/2018 national budget is set to grow to Ksh2.6 trillion ($25.3 billion), from Ksh2.48 trillion ($24 billion) in the current financial year. PHOTO | FILE |
Kenya's Treasury Cabinet Sectretary Henry Rotich is this afternoon expected to perform a delicate balancing act presenting a budget that will require him to significantly grow tax revenues while keeping the promise not to introduce any new taxes.
Mr Rotich’s task is complicated by the fact that he has prepared Ksh2.62 trillion ($26 billion) spending plan that requires the taxman to collect Ksh300 billion ($3 million) more in an economy where corporate profits are falling, thousands of workers are losing jobs and growth is expected to slow down ahead of the August elections.
