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Video: Kenya’s Ruto argues for reduced budget deficit, public debt

Published

8 months ago

April 4, 2024

In this video, Kenyan President, William Ruto, revealed that his country’s budget for the 2024/2025 financial year had been revised downward from Kes 4.23 trillion to Kes 3.7 trillion to minimize public debt and allow fiscal prudence.

“We need to manage our expenditure, that’s why I had a meeting with the parastatals because we have to live within our means…we cutting largesse and eliminating wastage

“We are reducing our budget from four points, almost 4.2 trillion (shillings) to 3.7 trillion, we need to live within our means… we are shedding off fat,” Ruto told Kenyans in Ghana in a video during a state visit on Tuesday.

In addition to lowering spending and the budget deficit, Ruto’s administration—which assumed office in 2022—has also been enacting additional taxes, which have infuriated certain people and organizations and prompted legal challenges.

The total amount of Kenya’s governmental debt as of December 2023 was around 11.1 trillion Kenyan shillings (Ksh), or 82.1 billion US dollars. Over the period, Kenya’s government debt has generally increased.

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Related Topics:budget Featured Kenya president William Ruto

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Video: ‘Neglect of Africa is a danger to the world’— Nigeria’s Tinubu at G20

Published

1 day ago

November 20, 2024

Ifeoluwa Dada

Nigerian President, Bola Tinubu, endorsed the call for a global alliance against hunger in his address at the opening of the 19th Summit of G20 leaders in Rio de Janeiro, Brazil.

Tinubu described the alliance, which was championed by the Brazilian president as pivotal to ending the global food crisis, while emphasizing how Africa is worst by poverty and hunger in the world.

“The neglect of Africa is a danger to the world,” Tinubu stressed while calling for global collaborative action against the problems of the continent.

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Video: Kenya’s Ruto targets inflation rate below 3%

Published

4 weeks ago

October 24, 2024

Ifeoluwa Dada

In this video, Kenyan President, William Ruto, stressed the economic goals of his government and charged the public to believe in the economic reforms of his administration.

Ruto also emphasized that the international community and multilateral bodies had applauded his policy direction, and urged Kenyans to join the train.

“You do have my commitment that we will be disciplined as a public sector… it my target that by next year inflation will be sub 3%”, Ruto said.

Earlier in the month, the Central Bank of Kenya slashed the benchmark rate to 12.0%, 75.0 bps down. The Central Bank’s prescribed target band for headline inflation is 2.5% – 7.5%, 5.0% being the mid-point · The last time Kenya registered <3.0% headline inflation was May 2007

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