Kenyan President William Ruto has announced budget cuts to seal the budget hole left after the withdrawal of the finance bill. This comes after protests led to the cancellation of contentious tax hikes, which resulted in the deaths of 39 people. Public debt amounts to $78 billion, around 70 percent of Kenya’s GDP. Ruto said in a televised address to the nation that Kenya’s budget deficit was now projected at 4.6% of gross domestic product in the 2024/25 financial year, up from an earlier estimate of 3.3%. Among ways his government will cut spending, Ruto said 47 state corporations would be dissolved, the number of advisors in government would be reduced by 50% immediately, and all non-essential travel by public office bearers would be suspended.
