Kenya’s public debt has ballooned to Ksh.8.4 trillion record high as President Uhuru Kenyatta prepares to vacate office in August, representing a 344.4 percent jump from Ksh.1.89 trillion debt which was left behind by the late President Mwai Kibaki in 2013. The National Treasury Cabinet Secretary
The National Treasury Cabinet Secretary Ukur Yatani has proposed to raise Kenya’s debt ceiling from the current Ksh.9 trillion to Ksh.10 trillion. In a gazette notice published on May 26, CS Yatani said that “pursuant to the provision of section 50 (2) of Public Finance Management
Kenya Revenue Authority (KRA) collected Ksh.1.45 trillion in ten months to April 2022 from Ksh.1.1 trillion in April 2021. This represents a 22 percentage point jump, signaling a continued recovery of revenue collection by KRA. The exchequer has since raised tax goal for KRA by a further
Kenya’s economy rebounded to 7.5 percent in 2021 from a 0.3 contraction that was registered in 2020 when coronavirus hit the shores. This is according to the Kenya National Bureau of Statistics (KNBS) report released on May 5, 2022. The record Gross Domestic Product (GDP) growth has
The government has increased its allocation for subsidized home connections to the national grid by Ksh.1.48 billion for the fiscal year beginning July, giving hope to thousands of households that have yet to receive electricity. According to the National Treasury's newest spending plans, Ksh.5.8 billion has
The National Treasury Cabinet Secretary Ukur Yatani seeks to increase excise duty as changes are made to the Excise Duty Act. Changes that have been proposed to the Excise Duty Act through the Finance bill 2022 will see punters pay 20 percent of their money as
In what is seen as the last shot by President Uhuru Kenyatta before he vacates office, the 2022/2023 budget has been set at Ksh.3.3 trillion. The budget will speak much of the President's legacy since he assumed power in 2013 when the 2012/13 budget was cut
The National Treasury and Planning Cabinet Secretary Ukur Yatani is expected to deliver President Uhuru Kenyatta’s administration's last budget at 3 pm, April 7, 2022. CS Yatani is expected to read the Ksh.3.3 trillion budget, the last of President Kenyatta’s tenure which will be executed to
Kenya's ease of restriction on social gatherings and domestic flights resulted in a rise in civil servants' spending on local travels in the first half of the fiscal year Data from the Controller of Budget (CoB) shows the officials spent Ksh.5.97 billion on local trips in
Safaricom’s gigantic revenue record is likely to be tampered with, considering the government’s proposal to slash M-Pesa transaction rates. National Cabinet Treasury Ukur Yatani is keen on making mobile money transactions affordable for Kenyans, who have been reeling from harsh economic times exacerbated by the coronavirus
