World Bank urges Kenya to avoid tax raises, focus on spending

Multilateral lender says improving the composition and efficiency of government expenditure should now be priority...

✨ Key Highlights

The World Bank is urging Kenya to prioritize improving public spending efficiency over increasing tax rates to ensure fiscal sustainability.

The World Bank warns that inefficiencies in public procurement, weak management of public investments, and a rising public wage bill are detrimental to Kenya's fiscal health and investor confidence.
Key focus areas for Kenya should include reforms in public procurement, tighter control of recurrent spending, and better management of public investments.
The World Bank recommends stronger fiscal responsibility laws and enhanced transparency and accountability to restore confidence in Kenya's public finances.

Continue Reading

Read the complete article from Nation News

📰 Read Full Article

Related News

Video

World Bank raises concerns over Kenya’s fiscal outlook

Citizen TV (Youtube)

3d ago

top4w ago

World Bank Sets Timeline for Unlocking Ksh96.9B Loan to Kenya

The World Bank is set to disburse Ksh96.9 billion to Kenya by June 30, following the country's successful implementation of key policy reforms. This significant loan, initially delayed, will now bolster the National Treasury's operations.

Kenyans

📰 Read Full Story

top3d ago

World Bank Raises Concerns Over Ruto's Ksh5 Trillion Fund

The World Bank has expressed concerns that Kenya's new National Infrastructure Fund (NIF), intended to finance major projects through asset sales and privatization, will not resolve the country's underlying revenue collection issues.

Kenyans

📰 Read Full Story

top2w ago

World MSME Day: Ruto urges banks to lend more

President William Ruto has urged Kenyan banks to increase lending to Medium, Small, and Micro Enterprises (MSMEs), emphasizing their critical role in national development.

KBC Top Stories

📰 Read Full Story