Escalating the cost of essential household commodities, high fuel prices, rapid depreciation of the shilling and spiralling public debt were threatening to ground the economy. Our inflation figures have fallen from 8 per cent in May 2023 to 5 per cent in April this year. I am grateful to all the members of the National Assembly who voted yesterday affirmatively for the Finance Bill 2024 as amended on the floor of the House to incorporate the views generated in the public participation process. Following the passage of the bill, the country witnessed widespread expression of dissatisfaction with the bill as passed, regrettably resulting in the loss of life, destruction of property and desecration of constitutional institutions. Consequently, having reflected on the continuing conversation around the content of the Finance Bill of 2024, I will decline to assent to the bill.

Source: Daily Nation June 27, 2024 13:59 UTC