NAIROBI, Kenya: Under mounting pressure from the younger demographic, President William Ruto has declined to endorse the Finance Bill 2024. This forces Kenya to either slash its spending or increase its borrowing to cover the budget deficit.
The controversial bill aimed to bring in an extra $2.7 billion. Despite parliamentary approval on Tuesday, public dissent led to widespread demonstrations. Faced with this uproar, Ruto decided to pull back the bill, mere hours after deploying the military to assist police forces in maintaining order.
An evidently disheartened Ruto expressed sorrow over the casualties, acknowledging that the nation must cut back on various projects due to financial limitations. Most severe taxes had already been removed before the bill’s passage through Parliament.
“The citizens of Kenya have spoken loud and clear; they want nothing to do with the Finance Bill 2024. I bow to their wishes and will not sign it into law. Consequently, it shall be withdrawn and I’ve agreed with MPs that this is our collective decision,” he proclaimed.
“My deepest condolences go out to the families who lost loved ones in this tragic scenario,” he added.
Moving forward, he stressed the importance of engaging with youth and stakeholders on budgetary matters, underscoring the necessity for all branches of government to adopt stringent fiscal measures to address the deficit.
Addressing the deceased, he asserted: “Their lives will be accountable. Such loss was unnecessary. When I assumed office, I vowed there would be no extrajudicial killings, and I remain dedicated to that despite recent regrettable events.”
Just before his public statement, Parliament had sanctioned the deployment of the Kenya Defence Forces (KDF) to quench violence in problematic areas. However, the courts interceded, halting the deployment until the legal challenge is resolved.
Ruto mentioned his administration would need to abandon various development initiatives. This includes slashing spending on confidential matters and curbing funds earmarked for vehicle purchases. The young protesters had even stormed the parliamentary building on Tuesday.
AXADLETM
