Kenyan lawmakers approved tax proposals in president Ruto’s first budget despite opposition. Measures include doubling VAT on gasoline and introducing a 1.5% housing levy for employees. These changes aim to finance the USD 26.2 bln budget and increase revenue by 17%. Meanwhile, Kenya plans to redeem half of the USD 2 bln Eurobond due next year before the end of 2023. This move should reduce Kenya’s debt obligations and possibly help stabilize its currency.