Ruto Declares Kenya’s Economy Stable After Two Years of Reforms.

President William Ruto has announced that Kenya’s economy is now stable, following two years of dedicated reforms since his administration took office in September 2022. Speaking on Thursday, January 9, 2024, during a development tour of Elgeyo Marakwet and Uasin Gishu Counties, Ruto expressed confidence in the country’s economic progress, attributing the stability to the government’s focused efforts.

“We have spent the past two years fixing the economy. I am glad our economy is now stable. We will keep working together to address our challenges and build a better Kenya. This is not the time for retrogressive politics,” Ruto stated on X.

During his visit to Elgeyo Marakwet County, Ruto inspected the construction of the 30-kilometer Kapcherop-Kipkundul-Kapyego-Kamelei road and reviewed the progress on the Kapcherop Technical and Vocational College. Later, he updated residents on the ongoing development agenda. In Uasin Gishu, Ruto broke ground for the Ksh1.9 billion Matunda Water Supply Project in Moi’s Bridge, a project expected to benefit over 100,000 residents across Uasin Gishu, Trans Nzoia, and Kakamega counties.

The President reaffirmed the government’s commitment to fulfilling its pledges, focusing on critical sectors such as education, agricultural productivity, healthcare, and infrastructure development. He emphasized the importance of these initiatives in improving the lives of Kenyans and fostering national growth.

Despite Ruto’s optimistic outlook, a recent report from the Kenya National Bureau of Statistics (KNBS) highlighted some economic challenges. According to the report, Kenya’s economy grew by 4 percent in the last three months to September 2024, a slowdown from the 6 percent recorded in the same period in 2023. The contraction was primarily attributed to declines in key sectors like construction and mining, with construction shrinking by 2 percent and mining and quarrying by 11.1 percent.

While Ruto remains confident in the strides made, the latest economic data suggests that there are still hurdles to overcome. As the government continues to implement development projects, sustaining growth and addressing sector-specific challenges will be crucial for long-term economic resilience.

Article By Suzy Nyongesa.