Kenyan President Ruto Announces Sweeping Spending Cuts, Plan to Borrow $1.3bn to Compensate for Tax Bill

In a desperate move to address economic turmoil and nationwide protests, Kenyan President William Ruto announced on Friday a significant reduction in government spending, amounting to 177 billion shillings ($1.39 billion) for the fiscal year starting in July. This decision follows weeks of intense protests that forced the government to abandon planned tax hikes, which [...]The post Kenyan President Ruto Announces Sweeping Spending Cuts, Plan to Borrow $1.3bn to Compensate for Tax Bill appeared first on Tekedia.

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