Kenyan President William Ruto has signed into law a bill that raises taxes despite criticism that it will worsen the high cost of living and stifle economic recovery.
The Finance Bill 2023 was approved by parliament last week amid strong rejection by opposition lawmakers. It will double tax on fuel to 16% and introduce a new housing levy, among other tax increments on a wide range of items.
"President Ruto has assented to the finance bill at State House," the presidency said in a statement on Monday.
The opposition, led by veteran politician Raila Odinga, has threatened fresh demonstrations over the tax package, saying it will strain already squeezed incomes.
'Bill a mistake'
"Our position remains that the bill is a mistake and an experiment Kenyans can ill afford," a spokesman for Mr Odinga is quoted by AFP as saying.
But the president has defended the taxes, saying the government needs funds to sustain its operations.
Kenya collects roughly Ksh2 trillion ($14 billion) in revenue and the government projects the new taxes will enable it to collect an additional Ksh211 billion ($1.5 billion).
The Law Society of Kenya has vowed to challenge the finance law in court this week.
