Kenya Retains Fuel Subsidy Even as Public Finances Struggle
- Subsidy cost 49.2 billion shillings in year to April 14
- State is grappling with staying within budget aid rising costs
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Kenya’s cabinet resolved to continue paying fuel subsidies in a program that has softened the blow of increasing prices while further straining public finances.
Oil prices have surged to about $110 per barrel this year from as low as $40 in 2020, warranting the support for consumers, the cabinet said in a statement issued by the presidency on Thursday. It didn’t give details on how long the program would remain.