World Bank report advises Kenya to reduce tax exemptions

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The World Bank released a report, which advises the Kenyan government to reduce tax exemptions to improve revenue and inject a dose of practicality when estimating revenue collection.

Drought conditions across Kenya could curb agricultural output this year, which accounts for close to a third of Kenya’s yearly economic output.

The report indicated that the economy expanded by an estimated 5.8 % in 2018, as it is still recovering from a slowdown the year before also caused by drought and election jitters.

The World Bank is one of Kenya’s major development financiers and cited that if the country fails to meet its revenue targets, they might face further risk from macroeconomic instability.

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