Kenya: What Next for the Finance Bill 2024 Following Ruto's Withdrawal

Nairobi — President William Ruto's historic announcement to withdraw the Finance Bill 2024 has raised questions about the next steps for Kenya's fiscal management.

At the committee of the whole house, it passed with 195 Members of Parliament voting in its support. This outcome sparked widespread violence during demonstrations, resulting in over 20 deaths, 300 injuries, and more than 50 arrests. Once referred back, the National Assembly will consider the bill, focusing on the President's reservations. The house can pass the bill a second time with a simple majority supporting the President's reservations. However, if the MPs seek to override the President's reservations, they will need a two-thirds majority of the house.There was a problem processing your submission. Please try again later.

"Listening keenly to the people of Kenya, who have said loudly that they want nothing to do with this Finance Bill 2024, I concede and therefore I will not sign the 2024 Finance Bill, and it shall subsequently be withdrawn," President Ruto stated.

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