Finance Bill 2024

2024 - 6 - 13

Shocking Revelations: IMF's Influence on Kenya's Finance Bill 2024 Unveiled

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Find out why Kenya's Finance Bill 2024 is causing a stir and how the IMF's involvement is raising eyebrows. #KenyaFinance #IMF #EconomicDistress

The Finance Bill 2024 in Kenya has sparked controversy as concerns over potential economic and social distress loom large if the bill is passed unchanged. Interestingly, the IMF's role in shaping Kenya's financial future has come under scrutiny, with questions arising about why the IMF is involved in drafting the country's finance bills. Treasury is urging MPs to approve the proposals in the Finance Bill, highlighting the need for a staggering Sh1.1 trillion to cover interest on the escalating national debt in the upcoming fiscal year.

Notably, the Finance Bill 2024 has garnered opposition from various quarters, including Kenya's Catholic bishops, who have strongly advised against passing the bill to prevent untold suffering among Kenyans. Additionally, Nyeri Boda Riders have expressed their disillusionment with the government, cautioning Mt Kenya MPs against supporting the bill, citing concerns about its potential negative impacts on the economy and livelihoods.

As Kenya gears up to present its budget for 2024/25, the finance minister aims to strike a balance between addressing the country's debt crisis and safeguarding its fragile economic recovery. Despite the looming tax hikes and revenue-raising proposals, there is skepticism surrounding the government's ability to protect the economy while implementing necessary fiscal measures.

In a surprising revelation, a Kenyan man, Fanya Mambo Kinuthia, has shed light on the tactics employed by MPs to ensure the Finance Bill's passage. He highlights how strategic abstentions often enable the bill to go through, showcasing the complex dynamics at play in Kenya's legislative process.

The Finance Bill 2024 raises the borrowing target significantly, signaling a Sh82.3 billion increase from the previous deficit. This amplification has raised concerns about the country's escalating debt burden and the potential consequences for future generations. Moreover, the opposition, led by Junet, has issued a stern warning to MPs, indicating that those supporting the bill may face repercussions, adding a new layer of tension to the already contentious financial landscape in Kenya.

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Image courtesy of "Kenyan Wallstreet"

Why Is the IMF Writing Kenya's Finance Bills? (Kenyan Wallstreet)

That the Finance Bill 2024 will, if passed as is, trigger economic and social distress is a foregone conclusion.

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Image courtesy of "Daily Nation"

Treasury urges MPs to pass proposals in Finance Bill (Daily Nation)

Kiptoo says Kenya would need Sh1.1 trillion to pay interest on ballooning debt in 2024/25 fiscal year.

Why Kenya's budget is read before the MPs pass Finance Bill 2024 (Pulse Live Kenya)

Treasury Cabinet Secretary Njuguna Ndung'u to present National Budget Policy Statement for 2024/25 financial year on June 13 · EAC Treaty requires finance ...

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Image courtesy of "Nairobi News"

Finance Bill 2024 will bring untold suffering to Kenyans, Catholic ... (Nairobi News)

The controversial Finance Bill 2024 has been condemned by the country's Catholic bishops, who have urged President William Ruto's government not to pass it ...

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Image courtesy of "CNBCAfrica.com"

Kenya budget to tackle debt, protect economy, finance minister says (CNBCAfrica.com)

NAIROBI, June 13 (Reuters) – Kenya's 2024/25 budget will aim to tackle its debt while protecting its fragile economic recovery at the same time, ...

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Image courtesy of "Tuko.co.ke"

Nyeri Boda Riders Warn Mt Kenya MPs against Voting for Finance ... (Tuko.co.ke)

Nyeri boda boda operators said they have lost hope in the Kenya Kwanza Alliance administration. They cautioned against approving the Finance Bill 2024.

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Image courtesy of "FRANCE 24"

Kenya to present budget with new tax hikes (FRANCE 24)

Kenya's finance minister is due to present Thursday the East African economic powerhouse's biggest ever budget, alongside a contentious finance bill that ...

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Image courtesy of "Tuko.co.ke"

Kenyan Man Explains Tricks MPs Will Use To Pass Finance Bill ... (Tuko.co.ke)

Fanya Mambo Kinuthia has shared his opinion on the tricks MPs are playing on Kenyans. He explained how many abstain from voting to allow the bill to pass.

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Image courtesy of "FRANCE 24"

Kenya to present budget with new tax hikes (FRANCE 24)

Kenya's finance minister is due to present Thursday the East African economic powerhouse's biggest ever budget, alongside a contentious finance bill that ...

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Image courtesy of "Daily Nation"

Finance Bill 2024: Kenya's Treasury raises borrowing target to ... (Daily Nation)

This is Sh82.3-billion jump from a deficit of Sh514.7 billion.

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Image courtesy of "The Star, Kenya"

Azimio will punish MPs who will vote for Finance Bill - Junet (The Star, Kenya)

Minority whip says the opposition has asked members to reject revenue-raising proposals.

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Image courtesy of "Daily Nation"

#FindMyMP: Kenyans call, text MPs to reject Kenya's Finance Bill 2024 (Daily Nation)

Migori Woman Rep Fatuma Zainab vows to reject the bill she term as "a scam".

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Image courtesy of "The Standard"

Kenyans mobilise MPs online to oppose Finance Bill 2024 (The Standard)

Kenyans on social media have launched an online campaign against the Finance Bill 2024 as the final reading nears.

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Image courtesy of "Pulse Live Kenya"

Kenyans flock Ruto & MPs' DMs to oppose the Finance Bill 2024 (Pulse Live Kenya)

Kenyans have developed innovative ways of making their voice heard on the Finance Bill 2024 by sharing numbers of their elected leaders and contacting them ...

We listened to your views, CS Ndung'u tells Kenyans (The Star, Kenya)

Treasury Cabinet Secretary Njuguna Ndung'u in parliament with a budget briefcase to read the budget on June 13, 2024. Image: EZEKIEL AMING'A.

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Image courtesy of "The Standard"

Kenyans mobilise MPs online to oppose Finance Bill 2024 (The Standard)

Kenyans on social media have launched an online campaign against the Finance Bill 2024 as the final reading nears.

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Image courtesy of "Business Daily"

Inside President Ruto's second Sh3.9 trillion budget – Highlights (Business Daily)

Treasury Cabinet Secretary Njuguna Ndung'u is tabling his second Budget in Parliament, in a tradition marked in East African Community member states.

Ksh 127B earmarked for healthcare in Finance Bill 2024 - KBC (Kenya Broadcasting Corporation)

During the budget reading in Parliament, Treasury Cabinet Secretary Prof. Njuguna Ndung'u highlighted significant budget allocations in the Finance Bill ...

Finance Bill 2024: Kenyans Share MPs Phone Numbers, Demand ... (Tuko.co.ke)

Amos Khaemba, a journalist at TUKO.co.ke, brings over three years of experience covering politics and current affairs in Kenya.

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Image courtesy of "Reuters"

Kenya budget sees deficit at 3.3%, seeks to protect economic recovery (Reuters)

Kenya's 2024/25 budget aims to tackle the country's debt while protecting its fragile economic recovery, with growth estimated at 5.5% in 2024 and 2025, ...

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Image courtesy of "Kenya Broadcasting Corporation"

Barongo: Finance Bill 2024 could stifle economic growth - KBC (Kenya Broadcasting Corporation)

The Finance Bill 2024 has faced extensive analysis and widespread opposition from various segments of society, according to Nofalson Barongo, ...

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Image courtesy of "Business Daily"

How Finance Bill will impact the digital, creative sector (Business Daily)

One of the government's five priority areas in this year's Budget Policy Statement is the Digital Highway and Creative Industry.

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Image courtesy of "Kenya News Agency"

Residents express views on the finance bill 2024/2025 – Kenya ... (Kenya News Agency)

The residents said the proposed increment of taxes on basic commodities such as milk and bread would hurt the majority of Kenyans. Grace Akinyi who is a ...

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Image courtesy of "The Star, Kenya"

Don't miss vote on Finance Bill, 2024 – ODM directs its MPs (The Star, Kenya)

The party has asked its MPs to suspend engagements that require them to leave Nairobi.

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Image courtesy of "The Standard"

Azimio reaffirms call for rejection of Finance Bill 2024 (The Standard)

The Azimio coalition has directed its members to oppose the Finance Bill 2024 during its presentation in the National Assembly on June 18.

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Image courtesy of "Capital FM Kenya"

Azimio resolves to reject key tax proposals in Finance Bill 2024 (Capital FM Kenya)

NAIROBI, Kenya, June 14—The Opposition Coalition has now set its sights on challenging the provisions of the Finance Bill 2024, which is poised to - Kenya ...

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