President Ruto’s decision to lower the housing fund from 3% to 1.5% has sparked debate among the Kenyan population. This lowering of the fund has raised questions as to why President Ruto, and the government as a whole, have decided to take this course of action. It is clear that the housing fund was created to help bring affordable housing to all people, regardless of their financial capabilities. The decrease in the fund, however, has put the availability of affordable housing into question.The official reason behind the lowering of the housing fund is due to Kenya’s current economic situation. Over the years, Kenya has been facing a number of economic challenges that have ultimately put a strain on their budget. These challenges include a rising debt, increasing inflation, and a lack of foreign investment. By lowering the housing fund, the government is attempting to cut costs in an effort to reduce their financial burden. Additionally, the government stated that the funds that are being saved from the housing budget could be used to finance other housing-related projects or used to fund other sectors of the economy.
However, many Kenyans are skeptical of the government’s reasoning behind the lowered housing fund and are worried that it may lead to a decrease in the availability of affordable housing in the country. They believe that the funds should be used in a different way, such as increasing subsidies for lower-income families, in order to make housing more affordable and accessible. It is unsurprising that citizens oppose the lowered budget as a vast majority of Kenya’s population are underprivileged and have limited access to quality housing. Additionally, the lowered budget may even deter foreign investors from coming into the country, as they may not be comfortable investing in a market with a lower budget for housing.
In conclusion, President Ruto’s decision to lower the housing fund from 3% to 1.5% has caused much debate among the Kenyan population and has raised questions as to how it will impact the availability of affordable housing within the country. While the lower housing budget may help the government reduce their financial burden, it could also lead to a decrease in the availability of affordable housing and impede foreign investment in the country. Ultimately, it is up to the government to ensure that all its citizens have access to quality and affordable housing.
by: your-udaku-mate