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.