Nairobi — President William Ruto has announced that Kenya has successfully averted the threat of debt distress, emphasizing that the nation’s economy is on a stable and sustainable path.
He credited the government’s implementation of well-considered policies for this achievement, policies that have promoted sustainable economic growth.
During the 60th Jamhuri Day celebration held at Uhuru Gardens in Nairobi, President Ruto highlighted that the government has made the right decisions, undertaken necessary sacrifices, and made prudent choices. These efforts have yielded positive results, positioning Kenya as one of the world’s fastest-growing economies.
President Ruto pointed to several favorable economic indicators, including a decrease in inflation and robust GDP growth, as signs of Kenya’s economic stability and growth.
The celebration was attended by dignitaries, including President Sahle-Work Zewde of Ethiopia, President Hussein Mwinyi of Zanzibar, Deputy President Rigathi Gachagua, Vice-President Prosper Bazombanza of Burundi, Wamkele Mene, Secretary-General of the Africa Continental Free Trade Area, Cabinet Secretaries, and others.
To ensure sustainable economic growth, President Ruto emphasized that the government has intentionally increased investment in human capital development. Notably, the total allocation to education has been raised by Ksh 127 billion.
In the agricultural sector, the government has taken significant steps, such as registering farmers, providing crop-specific fertilizers, implementing reforms in the tea, coffee, sugarcane, and edible oils industries, and making mobile dryers available.
President Ruto described the Universal Health Coverage plan as a transformative initiative that will alleviate millions of Kenyans from the burden of hospital bills.
He also highlighted the government’s commitment to job creation for the youth through programs like the Affordable Housing Plan and the establishment of ICT hubs to unlock online job opportunities.
The President noted that the government has fulfilled its promise to provide affordable credit and free entrepreneurs from exploitative money lending services. The Hustler Fund, he added, has grown to become the largest financial inclusion program in Kenya.
In a significant announcement, President Ruto revealed that visa restrictions for visitors to Kenya will be lifted starting January 2024, further promoting tourism and economic growth.
Later at the State House Gardens, the President hosted a luncheon and recognized individuals for their outstanding contributions to the country.
