Kenya's economy among the fastest growing - Ruto

By Peter Ochieng

President William Ruto says the country's economy is among the fastest growing in the world, perhaps signifying a better future to look foward to.

Speaking at Uhuru Gardens, Nairobi during the 60th Jamhuri Day Celebrations, Ruto said according to the World Bank projections, Kenya's economy is 29th among the fastest growing in the world.

"The economic indicators point to good news. Inflation is now at 6.8 percent down from a high of 9.2 percent last year. In the last 6 months, our Gross Domestic Product (GDP) has grown at 5.4 percent, making Kenya the 29th fastest-growing economy in the world, according to the World Bank," he said.

He said that since he took over from his predecessor Uhuru Kenyatta a year ago, his administration has made sacrifices aimed at salvaging the economy.

"What we have done together, the price we have paid together and the sacrifices we have made together have rescued our country from an economic catastrophe."

"Though painful, the sacrifices we have made, which would not only make our freedom fighters proud, but were also absolutely necessary at such a time as we found ourselves in to guarantee our nation’s economic stability. Proudly, these sacrifices have paid off: I can now confirm that Kenya is safely out of the danger of debt distress, and that our economy is on a stable footing," he added.

However, it is difficult for majority of Kenyans to agree with the Head of State, especially at this point in time when they feel chocked by the high cost of living.

Measures put in place by Ruto's administration to stabilise the country's economy include introduction of new tax measures, such as the controversial housing levy.

The president once again pledged to guard public resources against theft and corruption.

"It is only right that I match this admirable commitment by the people of Kenya to do their part in getting the economy going and give an assurance that all taxes collected by the government shall be put to their intended use and that no single shilling, no Kenya shilling, shall be lost through embezzlement, theft or corruption," he stated.

Today's Jamhuri Day was his second since taking over in September, 2022.