The International Monetary Fund on Friday, 12 July, called on President William Ruto's administration to mobilize more revenues to meet the country's needs.
In a statement, the Bretton Woods institution's spokesperson, Julie Kozack said strengthening the country's tax capacity was essential for Kenya's development.
According to Kozack, strengthening tax capacity was not only necessary to finance critical public spending but also to enable the state to fulfil its role in facilitating growth and improving public service delivery.
"With a significant share of revenues going toward debt service, Kenya needs to mobilize more revenues to meet the country's needs," read part of IMF statement.
Kozack stated that Kenya's Medium-Term Revenue Strategy aimed to widen the tax base and improve tax equity.
The Medium-Term Revenue Strategy involves comprehensive tax policy and administrative measures across all tax categories.
The IMF's spokesperson clarified that it was important to ensure that taxpayers' resources were spent efficiently and effectively and in priority areas.
She also stated that Ruto's administration also needed to enhance transparency, accountability, and anti-corruption efforts.
"The IMF remains committed to supporting Kenya's efforts to achieve inclusive and sustainable growth and to improve the living standards of its citizens," Kozack stated.
According to Kozack, at every program review, the Fund assesses developments and makes adjustments considering the evolving circumstances.
"Any potential modifications to the IMF program will be based on thorough analysis and constructive dialogue with the Kenyan authorities," the Fund's Spokesperson disclosed.
"It is also important that these policies go through a process of broad consultation so they can gain public support," she added.