Kenya Adjusts Tax Goals and Increases Borrowing Amid Economic Challenges

In a recent announcement, the Kenyan government has decided to adjust its tax collection targets downward while concurrently ramping up its borrowing plans. This strategic shift aims to address the prevailing economic challenges facing the nation, including inflationary pressures and reduced government revenues.

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Kenya's Economy Hits a Bump: Growth Slows to Nearly Four-Year Low

Kenya's economic growth has taken a significant hit, as the country reported a slowdown in its Gross Domestic Product (GDP) expansion during the third quarter of 2023. The latest data indicates a rate of just 3.1%, marking the slowest growth since 2020. Analysts and economists are expressing concerns about the factors contributing to this downturn, which may have far-reaching effects on one of East Africa's largest economies.

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