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Kenya Experiences An Unexpected 9.6% Increase In Revenue

It looks a bit like an economic miracle. Despite sluggish economic activity in the country, Kenya has managed to record significant inflows of foreign exchange. Activities were up 9.6%.

For the first half of the 2017/18 fiscal year, Kenya’s revenues increased by $ 61 million to $ 7.1 billion, up from $ 6.4 billion the previous year, the Kenyan treasury released on Tuesday. (KRA). According to the Kenya Revenue Authority, the revenue of the Ministry of Finance has increased by 10% to $ 6.5 billion.


“This growth is in line with the average growth of 3.5% of the Treasury’s revenue over three years (2014/15 to 2016/17). Overall growth of 9.6% was recorded in an economic climate depressed by the protracted election cycle that lasted most of the 2017 calendar year, “said a statement. KRA, John Njiraini.

Political problems have attempted to lower investor confidence and cause a drop in consumer spending, resulting in a low collection of consumption-related taxes.

But after the elections, KRA will focus on improving the business environment to provide the country with a better business climate.

The growth achieved in the first half of the year is due to investment efforts in technology and other reforms implemented in the past.


Written by How Africa

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