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Ruto Suspends Controversial Finance Bill, Faces Budget Crisis

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Herald Aloo

Herald Aloo, a journalist based in Nairobi, covers Kenya's economy, focusing on banking, and energy.
  • President Ruto rejects Finance Bill 2024, creating a $2.7 billion revenue gap
  • Multi-sectoral engagement planned to address budgetary challenges and expenditure cuts.

 

Nairobi, Kenya – Kenya’s President William Ruto has conceded to public protests over the contentious Finance Bill 2024, rejecting it in a landmark decision that leaves the country facing a fresh Ksh346 billion ($2.7 billion) revenue gap.

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