Experts are warning Kenyans to brace for a tough 2024-25 financial year as the government moves to ramp up revenue measures to finance the recently released budget. A post budget analysis by Audit firm Deloitte has revealed that the new year will be a hard one for Kenyans and will require fiscal discipline to navigate. This she says will shape the consumption trends where the purchasing power of Kenyans is expected to decline with services sector is expected to take the biggest hit. “We have already seen a reduction in revenue collection following the tax increases in the previous fiscal year. The sentiments were echoed by PwC analysists who recommended for realistic revenue targets with corresponding fiscal consolidation to reduce pressure to borrow.

Source: The Star June 17, 2024 17:22 UTC