Kenya Prepares Spending Cuts After Scrapping $2.3 Billion Taxes

Kenya is preparing to implement spending cuts after deadly protests forced President William Ruto to back down on plans to raise $2.3 billion in new taxes.

A supplementary budget for the year beginning July 1 is expected to be presented to lawmakers after parliament resumes sitting in about four weeks. The head of parliament signaled on Thursday the shortfall that’s expected to be created by the abandoned tax plans will be funded through spending cuts.

“We are guided that the financing gap may be bridged by the reduction of approved expenditure,” National Assembly Speaker Moses Wetang’ula said in a statement. ...