President William Ruto has made a bold announcement from State House, Nairobi.

He declared the withdrawal of the controversial Finance Bill 2024 amidst widespread public dissent.

Addressing the press, President Ruto acknowledged the mounting pressure from Kenyans who took to the streets to protest against the bill.

“After careful consideration and listening closely to the voices of our people, who have vehemently rejected the Finance Bill 2024,

I have decided not to sign it, and it will be withdrawn,” stated President Ruto.

Reflecting on the economic challenges faced upon assuming office 20 months ago, President Ruto highlighted significant strides in stabilizing Kenya’s economy.

“We have tackled rising costs of essential goods, high fuel prices, currency devaluation, and our spiralling public debt,” he affirmed.

President Ruto also revealed a major financial milestone.

Announcing the full repayment of Kenya’s $200 billion Eurobond debt borrowed in 2014.

Moreover, the last instalment of $500 million was settled just last week.

“For every KSh100 we collect in taxes, KSh61 has been used to pay off debts. This has steered Kenya away from the brink of debt distress,” he explained.

The President’s decision to withdraw the Finance Bill 2024 marks a significant response to public outcry.

Further signalling a shift in economic strategy aimed at alleviating financial burdens on Kenyan citizens.