In a recent meeting with parastatal heads and CEOs, President William Ruto of Kenya has directed a significant financial restructuring aimed at achieving a balanced budget before the end of his term. This move includes directives for CEOs to cut recurrent budgets by 30%, while commercial state corporations are to remit 80% of net profits and regulatory institutions 90% of surplus funds to the Treasury. This initiative is part of Ruto's broader economic strategy to reach a fiscal surplus, a milestone Kenya has not seen in two decades. [Via @OliverMathenge]
President William Ruto wants Kenya's economy running a balanced budget before the end of his term, which would make it a first since a fiscal surplus two decades ago https://t.co/KKOCYQZ1iX
President William Ruto wants Kenya's economy running a balanced budget before the end of his term, which would make it a first since a fiscal surplus two decades ago https://t.co/L8GGJuEBo4
President William Ruto wants Kenya's economy running a balanced budget before the end of his term, which would make it a first since a fiscal surplus two decades ago https://t.co/QhzwJ1yFI9
President Ruto Holds Meeting with Parastatal Heads & CEOs: š CEOs directed to slash recurrent budgets by 30%. š¼ Commercial State corporations to remit 80% of net profits to Treasury šļø Regulatory institutions to remit 90% of surplus funds to Treasury [Via @OliverMathenge] https://t.co/WTXqWtp2oP
"Voluntary" cuts https://t.co/Zn13t56kft