Kenya’s finance ministry will solicit public input on new legislation aimed at increasing revenue and addressing various issues, Finance Minister John Mbadi announced on Monday.
This follows the government’s withdrawal of a controversial financing law after protests in June that resulted in over 50 deaths.
The backlash led President William Ruto to abandon proposed tax hikes totaling over 346 billion shillings ($2.7 billion), leaving the government with a larger budget deficit, unresolved bills, and a delay in International Monetary Fund funding.
“We are barely managing. This is not where we wanted to be, but we are here,” Mbadi said at a budget preparation meeting.
Appointed from the opposition last month to help stabilize President Ruto’s government, Mbadi initially proposed reviving some of the tax hikes from the scrapped finance bill.
However, following public backlash and threats of further protests, he reversed his stance.
“I will be issuing a circular tomorrow, inviting the public’s participation to submit proposals on some legislative reforms to improve our current economic situation,” he added.
Kenyans will have until September 20 to provide their input on the new legislation.
Mbadi emphasised that Kenya must continue servicing its debt, which exceeds the optimal levels recommended by the World Bank and IMF, due to extensive borrowing for infrastructure projects.
“We have no two ways about it. There is no debt restructuring in this country. We will not accept it. We will not do it. We will manage our debts and pay and remain afloat,” he stated.
YOU MAY ALSO READ: Guinea-Bissau seizes 2.63 tons of Cocaine in major Airport raid