President William Ruto stated that Kenya has regressed by two years and will need to borrow at least Ksh.1.2 trillion this year to keep the government operational.
“We have dropped the Finance Bill. What does that mean? It means we have gone back almost two years,” President Ruto told journalists at State House on Sunday. “It means that this year we are going to borrow 1 trillion shillings to be able to run our government.”
President Ruto explained during the Presidential roundtable that dropping the Finance Bill will prevent the government from confirming 46,000 Junior Secondary School teachers on permanent and pensionable contracts.
He also mentioned that without the funds his administration had hoped to raise, it will be impossible to support Kenyan farmers, including ensuring they receive at least Ksh.50 per litre of milk.
“It means we cannot help our farmers get a return of Ksh.50 per litre of milk, we cannot pay coffee farmers’ debts, we cannot support the cherry fund, and we cannot help Mumias farmers with their debts,” he said.
President Ruto announced last Wednesday that he would not sign the contentious Finance Bill into law, following days of growing unrest and protests in more than 35 counties.
