Kenyan Civil servants are set to feel the pinch of President William Ruto’s KSh 300 billion budget cut as the state embarks on aggressive measures to reduce spending.
Kenyans will have to dig deeper into their pockets to fund President William Ruto’s maiden budget.
Treasury Cabinet Secretary Njuguna Ndung’u hinted at expanding the tax base to collect more revenue to fund the 2023/2024 budget.
Ruto’s administration aims to raise more resources from taxes in a revenue mobilisation strategy as it plans to reduce public debt.
As part of its loan conditions, the International Monetary Fund (IMF) wants the government to continue cutting the budget deficit by growing tax revenues and reducing non-essential expenditures. Kenya will receive an additional KSh 52 billion loan from the multilateral lender to address shocks resulting from drought and debt vulnerabilities.
