NAIROBI: Kenyan President William Ruto on Friday announced fresh borrowing plans and spending cuts after contentious tax hikes were scrapped following protests that left 39 people dead.
The East African nation was left reeling after peaceful rallies over the steep tax increases flared into violence with police firing at crowds who stormed parliament, leaving it partly ablaze.
While mostly led by Gen-Z Kenyans, the rallies tapped into a wider sense of anger against an annual finance bill, which Ruto was forced to abandon while warning of a massive funding shortfall.
“We will be proposing to the National Assembly a budget cut of not the entire 346, but a budget cut of 177 billion and borrowing the difference (around 169 billion shillings),” said Ruto.
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