- President Ruto declares Kenya’s triumph over economic threats and commitment to sustainable growth
- Robust measures cut expenditure by Ksh.400 billion, reducing inflation to 6.8%
- Inclusive growth focus, with success in agriculture and initiatives like the Hustler Fund
In a New Year message delivered at State House, Nakuru, President William Ruto announced that Kenya is out of danger and on the path to sustainable economic growth.
President William Ruto delivering his new year’s speech.
“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.” He stated.
President Ruto highlighted the government’s efforts in implementing robust measures to revitalize the economy, with a significant achievement in reducing inflation to 6.8%.
He emphasized the commitment to fiscal responsibility, revealing a substantial cut in expenditure by up to Ksh.400 billion to alleviate the need for excessive borrowing.
Assuring Kenyans of the government’s dedication to the Bottom-Up Economic Transformation Agenda, Ruto said, “Working with farmers, we will double our efforts in 2024 until we reduce our KSh500 billion food import bill to zero.”
He praised the success of the subsidised fertiliser programme, contributing to a remarkable increase in food production by more than 40%.
President Ruto outlined the government’s economic growth model designed for inclusivity, job creation, and expanding economic opportunities. He stated, “This model seeks to create millions of jobs,” and highlighted progress in promoting financial inclusion and the dignity of citizens at the economic bottom.
Acknowledging specific initiatives, Ruto pointed to the Hustler Fund and the new NSSF contribution model as exemplifying the government’s dedication to inclusive economic growth, financial well-being, and social security for all. He further expressed the government’s commitment to advancing universal healthcare.
Concluding his message, President Ruto called on public servants to execute their mandates diligently, underscoring the importance of collective efforts in realizing Kenya’s economic aspirations.
