Kenyan President gives in and will not sign tax increase law

Nairobi [Kenya], June 27: "After seriously listening to the people of Kenya who said they do not want the 2024 finance bill, I recognize [that opinion], therefore I will not sign this bill," President Ruto said on television on Thursday. June 27, Reuters reported.
Kenyan Vice President Rigathi Gachagua called on the crowd to stop protesting to avoid further loss of life and property, and criticized the activities of the intelligence agency.
Protests by Kenyan youth against tax increases have been taking place since last week. Tensions peaked on June 25, when many people stormed and damaged the parliament building in the capital Nairobi. Health officials said at least 23 people died in clashes between police and protesters.
Despite President William Ruto 's concessions, social media appeared to see protests continuing, with calls for the President to resign. On June 25, a crowd stormed the parliament building minutes after lawmakers voted to pass tax increases. Police opened fire on the protesters after being unable to disperse the crowd with tear gas and water cannons.
Mr. Ruto said he would hold dialogue with young Kenyans and push for austerity measures to address the fiscal deficit, starting with reducing the presidential budget.
Observers say that despite stopping the wave of protests, Mr. Ruto faces the problem of a high domestic deficit and the country is saddled with huge debts, with payment costs becoming increasingly expensive due to the value of the currency. local currency decreases.
Source: Thanh Nien Newspaper