President William Ruto has issued a directive to the National Treasury to promptly submit amendments to the Division of Revenue Act 2024 to Parliament. This move follows the rejection of the Finance Bill, which has led to reduced revenues impacting national finances.
The amendments are intended to align the Division of Revenue Act with the current financial landscape affected by the rejection of the Finance Bill. This legislative adjustment seeks to address the implications of reduced revenues and ensure financial stability amidst ongoing economic challenges.
President Ruto’s directive underscores the government’s proactive approach in navigating fiscal adjustments and maintaining transparency in financial governance. It highlights the administration’s commitment to legislative responsiveness and prudent financial management to mitigate economic uncertainties.
