Kenyan Wall Street | by Jackson Okoth
Fuel prices look set for a hike if an advisory from the International Monetary Fund(IMF) for the country to hike Value Added Tax(VAT) on fuel from the current 8% to the standard rate of 16%, is brought to bear.
“This would be a positive shock for Kenya, easing potential external balance pressures from other sources. If needed to meet fiscal objectives, Kenya can capitalize on lower super, kerosene and diesel prices by aligning fuel VAT to the standard rate,” said the IMF advisory…
