The Kenya Revenue Authority (KRA) and the National Treasury have been presented with a major setback after revenue collection by the end of November 2022 fell 19.1 billion less than what was anticipated.
The Latest Economic and Fiscal review by the National Treasury show that the collection in that period was Ksh893.8 billion while the target was Ksh912.9 billion.
However, the treasury noted that there was an increment in the collection by 10.6 percent.
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Treasury Cabinet Secretary (CS) Njuguna Ndung’u said that the shortfall did not cause an alarm, maintaining that the steps implemented by relevant authorities will see the targets realized.
“All challenges become a lesson and I believe we will get past this,” said the CS.
Additionally, the CS noted that measures initiated at the KRA will bear fruits in the near future to align with President William Ruto’s push to increase revenue collection.
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“The National Treasury, jointly with the KRA, is making improvements on tax administrative measures in order to ensure revenue collection remains on target,” said the CS.
Other measures to be taken by the treasury and which are expected to boost the financial status of the country are robust austerity measures such as suspending recurrent expenditure on areas such as domestic and foreign travel, communication, printing, training, and hospitality, among others.
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