The country has incurred a significant loss of approximately Ksh6 billion as a result of the ongoing protests, Government Spokesperson Isaac Mwaura revealed in a recent address. Speaking on Thursday, July 18, 2024, Mwaura warned that further economic damage is likely if the demonstrations continue in the coming weeks.

Economic Impact and Concerns

Mwaura highlighted data from the Kenya Revenue Authority (KRA), expressing concern about potential economic downturns caused by the protests. He pointed out that the government is struggling to implement austerity measures in response to the public’s rejection of the contentious Finance Bill 2024, which aimed to raise Ksh346 billion. Additionally, Mwaura mentioned a pending bill of approximately Ksh220 billion from the previous financial year.

Effects on Businesses and Entrepreneurs

The impact of the protests extends beyond the national economy, affecting entrepreneurs and businesses across the country. Mwaura noted that, in addition to looting and vandalism, many businesses are experiencing reduced sales and income due to the weekly demonstrations. The overall economic strain is evident in the declining financial performance of numerous enterprises.

Appeal to Protesters

In light of the economic challenges, Mwaura made an appeal to the young people who have been leading the protests. He urged them to pause the demonstrations and allow President William Ruto time to address some of their concerns. The Government Spokesperson emphasized that the administration is committed to preventing the country from descending into anarchy or lawlessness.

Government’s Response and Apology

Mwaura extended an apology on behalf of the government, acknowledging the public’s discontent with the display of opulence by some state officials. He assured that the Kenya Kwanza administration is dedicated to tackling major issues such as corruption, which were highlighted during the protests.