Treasury Chief Administrative Secretary Nelson Gaichuhie says the revenue collection dips witnessed due to economic slowdown will begin to improve once restrictions are lifted.
Gaichuhie made the remarks during the launch of the 2018/19 to 2022/23 strategic plan that seeks to deepen investments in Kenyan’s financial sector.
The country’s economic roadmap has no doubt changed course due to the whirlwind occasioned by COVID-19 that has hit the business environment hard.
KRA already projects a revenue dip in excess of Kshs 280 billion shillings.
The Treasury now says lifting restrictions to reopen markets will be the lifeline for the economy on the road to recovery.
In its 5 year strategic plan, the treasury says it will be focused on an enabling business environment that seeks to create jobs as well as prudent public debt management through diversified funding sources and improved revenue collection.
Despite the economic challenges, the government is still focused on ensuring attainment of the Big Four Agenda by allocating adequate resources with a view to better Kenyan lives.
The strategic plan will see promotion of digital finance, establishment of the Nairobi International Finance Center, deepening of Capital Markets and implementation of the Public Investment Management programme.