Supreme Court Upholds Controversial Kenya Finance Law Amid Protests

Kenya's Supreme Court has overturned an appeals court decision that nullified the 2023 finance law. The ruling is a significant win for President William Ruto's government, which faced protests over tax hikes. The finance law is key to revenue collection and supporting Kenya's economic programs amid mounting public debt.

The Supreme Court of Kenya delivered a notable verdict by overturning a previous decision from the Court of Appeal that had invalidated the 2023 finance law. This landmark ruling represents a substantial triumph for President William Ruto's administration.

The finance law faced significant opposition and led to widespread protests, driven by tax increases that included doubling the value-added tax on fuel and other measures. Despite these challenges, Ruto's government maintained that the tax hikes are crucial for funding development projects and managing the national debt.

The ruling potentially paves the way for financial stability, as the government seeks the International Monetary Fund's approval for a new funding disbursement. This development comes after achieving targets set by the IMF in their loan program review.

(With inputs from agencies.)