Kenya News Live | Prez William Ruto Speech Live | Nairobi Protest Live | Kenya Protest Live | N18G
Kenyan President William Ruto announced sweeping spending cuts on Friday (July 5), including slashing the government's advisory staff by half and dissolving 47 state corporations, as he seeks to plug a $2.7 billion hole in the budget after withdrawing a controversial tax hike that sparked nationwide protests.
The cuts outlined by Ruto will reduce government expenditure by 177 billion Kenyan shillings ($1.4 billion) in the current fiscal year that started on July 1. The remaining gap of 169 billion shillings will be covered through increased borrowing, raising Kenya's fiscal deficit to 4.6% of GDP from a targeted 3.3%.
Among the austerity measures, Ruto said 47 state corporations with overlapping functions would be dissolved, and their operations integrated into ministries. Public servants who turn 60 will be required to immediately retire with no extensions.
The president also announced suspending the purchase of new government vehicles for 12 months except for security agencies, as well as halting non-essential travel by state officials. Budget lines for the offices of the first lady, deputy president's spouse and prime cabinet secretary will be removed.
A week after deadly clashes in Kenya, the protests against the new finance bill have resumed. Kenya has reported fresh clashes between riot police in protestors in Nairobi as they chant "Ruto Must Go".
As per latest reports, riot police fired tear gas grenades at stone-throwing protestors at downtown Nairobi and across Kenyan cities.
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