In a live address from the state house, Ruto said the government will present a proposal to the national assembly to approve massive expenditure cuts after the withdrawal of the 2024 finance bill.
William Ruto, the President of Kenya, has announced the country’s National Treasury will cut spending to make room for key commitments after anti-government protests.
In a live address from the state house, Ruto said the government will present a proposal to the national assembly to approve massive expenditure cuts after the withdrawal of the 2024 finance bill.
“Over the last few days, our treasury team has been assessing the adverse impact of either reducing the budget by the entire Sh346 billion or borrowing the full amount,” he stated on Friday.
“We have since struck a middle ground and will be proposing to the National Assembly a budget cut of Sh177 billion and borrow the difference. The additional borrowing will increase our fiscal deficit from 3.3 per cent to 4.6 per cent and will be used to protect the funding of critical government services,” President Ruto stated.
President Ruto listed several critical government initiatives that will receive continued funding, including the hiring of medical interns, support for dairy farmers, road infrastructure projects, fertilizer subsidies, and settlements of debts owed to farmers in various sectors.
In addition to the financial adjustments, President Ruto also removed budgets for the offices of the first lady, and the second lady.
Dissolution of 47 State Corporations to eliminate overlapping functions and reduce operational costs.
Suspension of filling Chief Administrative Secretaries positions.
50 per cent reduction in government advisors within the public service.
Removal of budget lines for offices of First Lady, spouses of Deputy President, and Prime Cabinet Secretary.
Suspension of non-essential travel and participation in public contributions by state and public officers.
“These measures are part of our commitment to enhance efficiency and transparency in serving the people of Kenya,” President Ruto affirmed.
“We are determined to improve the quality of services and ensure maximum value for the resources entrusted to us.
WhatsApp Community
SUBSCRIBE TO OUR NEWSLETTER NOW
Support MATAZ ARISING’ journalism of integrity and credibility.
Good journalism ensure the possibility of a good society, an accountable democracy, and a transparent government.
We ask you to consider making a modest support to this noble endeavour.
TEXT AD: To advertise here – Email ad@matazarising.com
-
Atiku’s Subsidy Promise: A Return to the Old Rent-Seeking System
By Idowu Ephraim Faleye MaTaZ ArIsInGDallas, Texas There are political promises that sound so good to suffering citizens that people stop asking questions. “I will restore petroleum subsidy” is one of them. At a time when Nigerians are facing high petrol prices, rising transportation costs and increasing pressure on household incomes, any politician promising cheaper…
-
Tinubu, family can’t be arrested in the US during UNGA — Envoy, Ibrahim
MaTaZ ArIsInGDallas, Texas …says the President have no case to answer;an allegation is not a crime Nigerian Permanent Representative to the United Nations, Ambassador Jimoh Ibrahim, says President Bola Tinubu and members of his family have unimpeded transit and cannot be arrested in the United States while attending the United Nations General Assembly (UNGA). Ambassador…
-
Atiku playing to the gallery, 15 northern states ‘ll collapse if subsidy returns – OAU prof
MaTaZ ArIsInGDallas, Texas Professor Tunji Ogunyemi of Obafemi Awolowo University, OAU, in Ile-Ife, has explained how 15 states in the northern part of Nigeria will collapse if petroleum subsidy is returned as some politicians have been advocating. He added the African Democratic Congress, ADC, presidential candidate’s position on subsidy was, “with due respect”, politics and playing…
