Kenyan President William Ruto has revealed the effects that come with withdrawing the 2024 Finance Bill that he had proposed be imposed.
Speaking during the roundtable with other media outlets, the president said that a lot of things will have to be put on hold because of it.
He explained that the country has gone back two years, and in order for the country to run, a huge amount of debt must be borrowed.
“We have dropped the Finance Bill, and that means we have gone back almost 2 years. It means that this year, we are going to borrow 1 trillion shillings to be able to run this country.” President Ruto said.
According to the president, dropping the Finance Bill has huge consequences that will put a lot of things on hold, including hiring a new team, settling debts, and even importing things that can be found locally.
He goes on saying that, as many were against the Finance Bill, the plans that were underway were going to help the country from its huge debt as well as be able to do many other things that were not being taken care of.
Why President Ruto Withdrew the 2024 Finance Bill
The President who was addressing the nation on Wednesday said he was not going to sign the 2024 Finance Bill because the public don’t agree with it.
“Having reflected on continuing the conversation around the Finance Bill, and listening to the Kenyan people who say they want nothing to do with this Bill, I concede,” President Ruto said.
“Therefore, I will not sign the Finance Bill 2024 and it shall be subsequently withdrawn and I have agreed with these members, that shall become our position.” He said.
