Kenya’s President William Ruto has said the country triumphed despite the economic crisis it faced the previous year.
President Ruto made the statement in his New Year message at the State House, Nakuru, on Sunday.
He said his government has put in place several measures to restore the country to its glorious days.
President Ruto added that Kenya made undeniable progress, stating that inflation has dropped to 6.8 per cent.
He observed that the country’s economy is growing due to the sacrifices made by Kenyans.
“We take pride in the strides we have made. We have triumphed over the threat of economic stagnation. We are now secure to our sovereign debts,” President Ruto said.
The Kenyan leader clarified that to lower borrowing, the government has trimmed spending by up to KSh400 billion ($2,542,955).
President Ruto assured citizens that the government is dedicated to implementing its Bottom-Up Economic Transformation Agenda.
According to him, food production has increased by almost 40% due to the fertiliser subsidy programme, which was founded to help farmers enhance agricultural output.
“Working with farmers, we will double our efforts in 2024 until we reduce our KSh500 billion food import bill to zero,” he said.
President Ruto later added that “The Hustler Fund and the new NSSF contribution model exemplify our dedication to inclusive economic growth, financial well-being and social security for all,” he added.
