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However, this is a direction that the government is unlikely to take considering huge maturing external debts, tightening fiscal policies by central banks of big economies, and pressure to fund a massive KSh3.3trn budget for the current 2022/23 fiscal year.
“The conversion of subsidies into indirect tax cuts would be an adoption of lower indirect taxes as a long-term measure,” says Mihir Dhakir, an economist. “But by resorting to subsidies, the government is clear to development partners and citizens that these are just short-term measures.”
Election promises
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