Kenya's revenue will rise 14 percent to 428.8 billion Kenya shillings ($6.46 billion) in the 2007/08 fiscal year, the finance minister said on Thursday. Kenyans are expected to hold presidential and parliamentary elections in December and analysts have said this year's budget would be geared towards pleasing the electorate.
"Total revenues are projected to increase by 14 percent to 428.8 billion shillings," Finance Minister Amos Kimunya told parliament in his annual budget speech. He also said the overall budget deficit for east Africa's biggest economy will be 109.8 billion, with donors covering 39.8 billion shillings of that shortfall.
Kimunya allocated money for free public secondary school tuition starting in January, for hiring another 11,000 teachers, to purchase land to settle squatters and for writing off bad debts owed by coffee farmers. Reduced corruption in the country's revenue authority has seen tax collections rise over the past four years, reducing its need for foreign aid.
Comments
Comments are closed for this article.