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| Name | Kenya's Ruto Announces Sweeping Spending Cuts Following Violent Protests |
| Video Uploader | Video From ESET TV |
| Upload Date | This Video Uploaded At 06-07-2024 18:49:36 |
| Video Discription | Kenyan President William Ruto announced sweeping spending cuts on Friday (July 5), including slashing the government's advisory staff by half and dissolving 47 state corporations, as he seeks to plug a $2.7 billion hole in the budget after withdrawing a controversial tax hike that sparked nationwide protests. The cuts outlined by Ruto will reduce government expenditure by 177 billion Kenyan shillings ($1.4 billion) in the current fiscal year that started on July 1. The remaining gap of 169 billion shillings will be covered through increased borrowing, raising Kenya's fiscal deficit to 4.6% of GDP from a targeted 3.3%. Among the austerity measures, Ruto said 47 state corporations with overlapping functions would be dissolved, and their operations integrated into ministries. Public servants who turn 60 will be required to immediately retire with no extensions. The president also announced suspending the purchase of new government vehicles for 12 months except for security agencies, as well as halting non-essential travel by state officials. Budget lines for the offices of the first lady, deputy president's spouse and prime cabinet secretary will be removed. -Kgty19cIq8 |
| Category | People & Blogs |
| Tags | People & Blogs Download MP4 | People & Blogs Download MP3 | People & Blogs Download MP4 360p | People & Blogs Download MP4 480p | People & Blogs Download MP4 720p | People & Blogs Download MP4 1080p |
