Kenyan President Promises Not To Sign Financial Bills That Trigger Riots On Anti-Tax Demonstrations

Protests about the new Fiscal Bill in Kenya. (Twitter/@AmnestyKenya)

Kenyan President William Ruto said he would not sign a draft controversial financial law that had sparked a wave in the country.

"I gave up," Ruto was quoted as saying by CNN, Wednesday, June 26.

Ruto had previously criticized protests that caused parliament to be stormed and at least five people were shot dead as "traisals", but did not respond to growing anger against the controversial financial bill that sparked widespread demonstrations.

Kenya was hit by national protests against a proposed tax increase, culminating in the country's "total closure" on Tuesday, which quickly turned violent as police used tear gas and live ammunition against demonstrators.

The controversial financial bill has sparked widespread protest movements vowing to "7 Days of Anger."

Police previously opened fire on protesters who tried to storm Kenya's legislative building on Tuesday, June 25 which left five protesters dead.

Dozens more were injured and several parts of the parliament building were burned down when lawmakers in it passed legislation to raise taxes.

Parliament approved the draft financial law, and passed it on to a third discussion by lawmakers. The next step is to send the law to the president for signature. The president can send it back to parliament if he objects.

Protesters oppose tax increases in a country that has been shaken by the cost of living crisis, and many have also called for President William Ruto to step down.

The financial bill aims to increase additional taxes of USD 2.7 billion as part of efforts to ease large debt burdens, with interest payments alone spending 37 percent of annual income.

The government has provided some concessions, pledging to cancel new tax proposals on bread, cooking oil, car ownership and financial transactions. But that's not satisfactory enough.