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Kenya Finance Budget

15 Jun 2023

Kenyans should brace themselves for tougher days ahead. Petroleum products including diesel and kerosene are projected to possibly increase, this will result in the cost of goods and ultimately affect the consumer.

A year ago under the previous administration, the parliamentary committee had directed to cut the eight percent value-added tax (VAT) on petroleum products to four percent. It proposed a cut of the petroleum development levy (PDL) from Sh5.40 to Sh2.50 per Litre. In my view, the 5.40 PDL needs to be removed, this will significantly reduce the cost of living, I believe it necessary to eliminate the levy on petroleum on the basis of reducing the burden on the Mwananchi.

Additionally, the imposition of a 10% tax on imported mobile phones should be reconsidered to encourage local mobile manufacturing, as these devices are essential tools ordinary Kenyans use. We should embrace technology as it's the way to go, with the budget passed the economy is expected to rebound and expand by 5.5% in 2023 up from 4.8% in 2022 and it will be supported by private sector-led growth including the strong performance of the services sector.