Kenya may hit taxpayers harder in bid to plug budget deficit

Jonathan Stichbury, (left) Managing Director and Chief Executive Officer Pinebridge Investments consults with Edward Gitahi (right) senior investment manager when Pinebridge Investments launched financial outlook they say fiscal spending pressure to fund ambitious infrastructure projects could result in higher taxes in 2016. PHOTO: WILBERFORCE OKWIRI

NAIROBI: The Government could raid the pockets of more taxpayers this year as it moves to plug its huge budget deficit, an asset management firm has said.

In its outlook for 2016, Pinebridge Investments reckoned that because the Government has little leeway to borrow either locally or from the international markets, it will be left with no option but to increase the tax base.