Kenya plans to reduce its 2024-25 spending by 1.9% and widen the fiscal deficit to 3.6% of GDP, following the rollback of tax hikes due to protests.<\/p>\n
In response to protests demanding his resignation and reforms, President William Ruto dismissed nearly his entire cabinet and promised a more inclusive government.<\/p>\n
To address a $2.7 billion budget gap caused by the withdrawn tax hikes, Ruto proposed spending cuts and additional borrowing.<\/p>\n
Next week, lawmakers will debate the supplementary budget, which outlines a total spending of 3.87 trillion Kenyan shillings ($30 billion), down from 3.99 trillion. Recurrent expenditure is set to drop by 2.1% and development expenditure by 16.4%.<\/p>\n
Despite retracting the tax hikes, the road maintenance levy was increased to 25 per litre of fuel from 18 shillings.<\/p>\n
Ruto faces pressure from international lenders like the IMF to cut deficits while managing a population struggling with high living costs. The IMF is assessing Kenya’s recent developments and will adjust its approach accordingly.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kenya plans to reduce its 2024-25 spending by 1.9% and widen the fiscal deficit to 3.6% of GDP, following the rollback of tax hikes due to protests. In response to protests demanding his resignation and reforms, President William Ruto dismissed nearly his entire cabinet and promised a more inclusive government. To address a $2.7 billion […]<\/p>\n","protected":false},"author":1,"featured_media":9398,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":2,"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"Africa News","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"0","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"0","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":[],"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32,2362],"tags":[111,490],"class_list":["post-12461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","category-featured","tag-kenya","tag-william-ruto"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/12461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=12461"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/12461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9398"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=12461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=12461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=12461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}