President Ruto stated during a Thanksgiving service in Taita Taveta that the
nation has finally achieved a stable economy. Over the past 8 months, he has
been laboring to stabilize the crumbling economy, and his efforts have come to
fruition.
In his remarks, Ruto emphasized the importance of mitigating “the
the ballooning debt ceiling” and assured the people of Kenya that debt no
longer threaten them.
He revealed that “I have held many meetings with World Bank, IMF, and
others whom we have borrowed money from but I want to confirm to the people of
Kenya that we have stabilized the economy and now we cannot be threatened by
debts again. What I cannot allow is to have our country keep on borrowing left
right center.”
The Head of State outlined an alternative approach, emphasizing the
significance of revenue collection to sustain the nation’s operations.
He encouraged Kenyans to support his taxation proposals, and he personally
pledged to lead by example in paying his taxes.
“We will collect tax here. We are looking for that tax to run our
country with our own resources.”
Despite facing global economic shocks, Kenya’s public debt, which has
surpassed the Ksh.9.4 trillion mark, remains feasible.
The Treasury Cabinet Secretary, Prof. Njuguna Ndung’u, also confirmed the state intends to reduce its spending this financial year to strengthen the
country’s debt sustainability ratio.