Home News The World Bank now applauds RUTO’s decision to tax Kenyans while warning...

The World Bank now applauds RUTO’s decision to tax Kenyans while warning him about RAILA ODINGA – LOOK!

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The World Bank applauds President William Ruto’s desire to tax Kenyans excessively.

In a recent report, the World Bank praised Ruto’s initiatives to raise money by raising tax rates following his inauguration.

The government’s involvement in maintaining the economy and bringing down the debt to Gross Domestic Product (GDP) ratio, which now stands at 67.4 percent, was highlighted in the report titled Kenya Economic Update.

The government’s progress in economic recovery, however, was endangered by three threats, according to the World Bank.

Low rainfall, political tensions brought on by Raila Odinga’s demonstrations, and monetary policies implemented by the Central Bank, according to the World Bank, pose a risk to Ruto’s attempts to restart Kenya’s economy.

Kenya’s inflation rate was predicted by the World Bank to drop from 7.6 percent to 5.7 percent between 2024 and 2025.

The actions the government took to cut the ballooning debt levels helped to lessen both the domestic and international imbalances.

Tax increases should be supported, said Ruto, because they would promote economic stability.

“There are no punitive taxes proposed. Economic policy is under our control. Everyone recognizes how important it is that we have stabilized the economy, he said.

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