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During a joint media interview Sunday eveining, President William Ruto emphasized on the necessity of increasing borrowing to sustain government operations after the unpopular Finance Bill 2024, intended to raise additional tax revenue, was rejected. Ruto stated that the government would need to borrow an additional 346 billion shillings to cover the deficit, resulting in total borrowing for the 2024/25 fiscal year approaching nearly 1 trillion shillings. This stance, however, appears contradictory to his directive to the Treasury to reduce expenditure by an equivalent amount.
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President Ruto says withdrawal of Finance Bill has consequences
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- 3 Jul 2024 - Wajir Governor Ahmed Abdullahi has revealed significant challenges his administration faces with the embezzlement of medical supplies, pharmaceuticals, and essential items at various health facilities across the county. Despite allocating 40 per cent of…