President William Ruto has signed the Supplementary Appropriations Bill into law on as the government intensifies budget reductions amid renewed austerity measures.
The reductions include Kes6 billion slashed from the presidency, Kes 6.9 billion from medical services, and Kes 17.3 billion from roads and transport projects.
According to a brief forwarded to the president by the National Assembly, it highlighted the delicate balance between necessary austerity measures and the need to cushion the people's and the economy's livelihoods.
“While it could be prudent to reduce expenditures by the amount equivalent to the anticipated revenue shortfall of Kes 344.3 billion, this was not tenable given the delicate balance between austerity measures and cushioning the livelihoods of the people and the economy.”
The enactment of these measures follows President Ruto’s unprecedented decision on June 26 to withdraw the Finance Bill 2024.
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“Listening keenly to the people of Kenya, who have said loudly that they want nothing to do with this Finance Bill 2024, I concede and therefore I will not sign the 2024 Finance Bill, and it shall subsequently be withdrawn.”
