President William Ruto has moved to assure the country that the economy is stable following the government’s continued effort in implementing policies that have put the country on a sustainable economic growth path.
The Head of State, in his Jamhuri day speech on Tuesday, said that Kenya is out of the danger of debt distress and the economy is on a stable footing.
The President said the government has been keen to make the right decisions, necessary sacrifices and smart choices and asked Kenyans to now focus on growth moving forward.
He added that the efforts made by his government have been fruitful as Kenya is now among the fastest-growing economies in the world.
“The economic indicators point to good news. Inflation is down while our GDP has grown,” he said.
Ruto made the remarks during the 60th Jamhuri Day celebration at the Uhuru Gardens, Nairobi.
Present were President of Ethiopia Sahle-Work Zewde, President of Zanzibar Hussein Mwinyi, Deputy President Rigathi Gachagua, Vice-President of Burundi Prosper Bazombanza, Secretary-General of the Africa Continental Free Trade Area Wamkele Mene, Cabinet Secretaries, among others.
President Ruto said the government has intentionally increased investment in the development of human capital to ensure sustainable economic growth.
“That is why we have increased the total allocation to our education by Sh127 billion,” he said.
To enhance the agricultural sector, he observed that the Government has registered farmers, provided crop-specific fertiliser, rolled out reforms in the tea, coffee, sugarcane and edible oils and availed mobile driers.
He described the Universal Health Coverage plan as a radical transformative plan that will liberate millions of Kenyans from the burden of hospital bills.
The President said the government is implementing a raft of programmes to create jobs for the youth citing the Affordable Housing Plan, and establishment of ICT hubs to unlock online job opportunities.
The Head of State said the government has kept its pledge on the provision of affordable credit and liberated entrepreneurs from exploitative money lending services.
He said the Hustler Fund has grown to become the largest financial inclusion programme in Kenya.
He also announced that the Government has removed visa restrictions for those visiting Kenyans beginning January 2024.