The ballooning debt in East Africa’s economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns It will have huge consequences.
Facing public calls to resign, Ruto has said the government will turn to slashing a $2.7 billion budget deficit by half and borrowing the rest, without saying from where.
After anger over bloated bureaucracy and luxurious lives of senior officials helped to fuel the protests, Ruto also has promised funding cuts in his own office and said funding would stop for the offices of the first lady, the second lady the wife of the vice president and the wife of the prime Cabinet secretary. A…
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