https://en.sputniknews.africa/20240629/kenya-to-take-measures-to-reduce-expenditure-following-decline-of-finance-bill-2024-1067291032.html
Kenya to Take Measures to Reduce Expenditure Following Decline of Finance Bill 2024
Kenya to Take Measures to Reduce Expenditure Following Decline of Finance Bill 2024
Sputnik Africa
On Wednesday, Kenya's President, Rusto, declared that he would not sign the tax increase bill that provoked deadly unrest in the country. 29.06.2024, Sputnik Africa
2024-06-29T09:52+0200
2024-06-29T09:52+0200
2024-07-01T16:13+0200
sub-saharan africa
kenya
william ruto
east africa
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Kenya's President William Ruto has issued instructions to reduce expenditure following the decline of the Finance Bill 2024, which was met with fierce protests in the country. The reduction will amount to roughly $2.7 billion, an official statement reads.The institution was also instructed "to ensure that only critical and essential services are funded, using no more than 15% of the budget until the supplementary budget is approved."The demonstrations against the tax increases proposed in the Finance Bill 2024 resulted in the deaths of at least 23 people and the injuries of over 300 others in various regions of the country, the portal said.
https://en.sputniknews.africa/20240628/imf-reportedly-urges-kenya-to-implement-new-taxes-despite-protests-1067282947.html
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kenya, william ruto, east africa, finance
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Kenya to Take Measures to Reduce Expenditure Following Decline of Finance Bill 2024
09:52 29.06.2024 (Updated: 16:13 01.07.2024) On Wednesday, Kenya's President, Rusto, declared that he would not sign the tax increase bill that provoked deadly unrest in the country.
Kenya's President William Ruto has issued instructions to reduce expenditure following the decline of the
Finance Bill 2024, which was met with fierce protests in the country. The reduction will amount to roughly $2.7 billion, an official statement
reads.
"Further, I have directed the National Treasury to immediately submit to Parliament amendments to the Division of Revenue Act 2024 to reflect the reduced revenues occasioned by the rejected Finance Bill," it says.
The institution was also instructed "to ensure that only critical and essential services are funded, using no more than 15% of the budget until the supplementary budget is approved."
The demonstrations against the tax increases proposed in the Finance Bill 2024 resulted in the deaths of at least 23 people and the injuries of over 300 others in various regions of
the country, the portal said.
