LIVE | CS Mbadi Presents Ksh.4.2 Trillion Budget in Parliament

John Mbadi was appointed Treasury Cabinet Secretary on July 24, 2024, replacing Njuguna Ndungu, President William Ruto’s first Treasury head from 2022. President Ruto’s administration has been struggling to narrow the fiscal deficit and govern under a heavy total debt-to-GDP ratio of around two-thirds, well above the 55% level considered a sustainable threshold. The government is seeking new sources of funding after last year’s countrywide protests forced it to pursue austerity measures and scrap planned tax hikes worth more than 346 billion Kenyan shillings ($2.7 billion). #metropoltv