World Bank
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World Bank questions Kenya infrastructure fund
The World Bank has cautioned that Kenya’s newly established National Infrastructure Fund will only provide temporary fiscal relief unless it is backed by broader reforms to strengthen public finances and improve government spending. In its latest Kenya Economic Outlook, the lender says the fund could help ease pressure on the country’s budget in the short…
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World Bank, TDB Back $95M Green Homes Drive in Kenya
The Eastern and Southern African Trade and Development Bank (TDB), in partnership with the World Bank, has launched a new project aimed at promoting sustainable and inclusive housing in Kenya. The initiative, dubbed the Africa Green, Resilient and Inclusive Housing De-risking (GRIHD) Facility Project, will be financed through a US$95 million (Sh12 billion) loan from…
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World Bank Urges Gov’t to Shield Poor from SHIF, Housing Tax
The World Bank now urges the government to exempt workers earning less than Sh32,333 from paying housing tax and Social Health Insurance Fund (SHIF) to boost disposable income for low income earners. The Bretton Woods institution said that the deductions for SHIF and housing tax are unpopular. The levies have significantly cut the workers net…
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World Bank Casts Doubt on Kenya’s Austerity Measures
The World Bank has raised alarms over Kenya’s escalating debt levels, classifying the nation as being at a high risk of default. In its latest Kenya Economic Update, the Bank cautions that current austerity measures may not suffice to avert a fiscal crisis, urging the government to implement structural and governance reforms to stabilize the…
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World Bank Urges the Taxman to Squeeze More From the Rich
A push by the World Bank could see Kenya’s highest earners pay more in taxes as part of sweeping fiscal recommendations to ease inequality and boost public revenue. In its latest Public Finance Review, the World Bank calls on the Kenyan government to adjust its personal income tax (PIT) policy by introducing a new top…
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Why the World Bank Questions Kenya’s Tax Policy Effectiveness
Kenya’s recent push to raise revenue through higher taxes may fall short, the World Bank has warned in its latest Public Finance Review. The report highlights systemic flaws in the country’s tax regime, citing inefficiencies, a narrow tax base, and widespread evasion and avoidance as major hurdles to increasing revenue collection. Kenya’s tax productivity, defined…
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Kenya’s Economic Uncertainty: What Govt Must Do Now
Kenya’s public debt remains at high risk of distress, with interest payments absorbing about a third of tax revenue. Reforms to strengthen fiscal sustainability in an equitable way while promoting inclusive growth and jobs are critical to revive a slowing economy and a weak labor market. According to the latest World Bank Kenya Economic Update,…
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