President William Ruto now says that the country’s economic indicators point to good news.
Speaking during the 60th Jamhuri Day celebrations at Uhuru Gardens, Nairobi, President Ruto said that the sacrifices and hard work put in ever since he took over power last year have started to pay off.
The country’s inflation, he says, now stands at 6.*%, down from a high of 9.2% last year. In the last 6 months, the Head of State says that Kenya’s Gross Domestic Product (GDP) has grown at 5.4%, “making Kenya the 29th fastest-growing economy in the world.”
“There is every reason to believe that without serious sacrifices
and hard work over the past year, the crises, threats and
challenges in the global economic and geopolitical environment
confronting us would have overwhelmed us, as indeed, it has
many countries,” President Ruto said, adding, “We have had to make our contribution to the struggle for the nation’s economic sovereignty. We have had to cut back significantly on expenditure and to defer the implementation of critical development programmes to stabilise our economy.”
With President Ruto insisting that the country has navigated its way out of a “difficult and complicated debt” crisis, he underscored that Kenya Kwanza Government’s second action was to accelerate economic progress.
On this assignment, he is banking on the human capital that is at disposal.
“Our innovative, smart-working, professional labour force is probably the single most potent arsenal we have to drive our economic progress. Globally, Kenyans have excelled in semi-skilled, skilled and professional occupations. Our expenditure on training, learning and education in general is a most appropriate investment in the development of the human capital necessary in our economic progress,” President Ruto added.
