William Ruto Says Kenya Kwanza Has Stabilised Economy: "I'm Very Proud"

• President William Ruto said the country's economy was on the right track due to the interventions by his government
• Ruto said the decision by his government to put more effort into generating local revenue had given forth fruits
• The president thanked Kenyans for having confidence in the measures being undertaken by his administration

Nairobi - President William Ruto has lauded the efforts by his government in trying to stabilise Kenya's economy less than a year since he took power.

Speaking at State House, Nairobi, on Tuesday, August 1, Ruto said he was proud of the Kenya Kwanza government's interventions to fix the economy.

William Ruto thanks Kenyans

According to Ruto, even though the interventions by his government were painful, they have helped in steadying the country's economic outlook.

"I am very proud today that almost a year in our economy has steadied. I am very proud today that the interventions we have taken though not popular and very painful, I want to say they have paid off. Today our country is on fairly sound economic footing," the president said.

The head of state explained that increasing taxes to ensure the country lives within its means was one of the interventions behind stabilising the economy.

"And our decision to do more around collecting our own taxes, to do more about living within our means and to borrow less and to work on our fiscal deficit. I must admit it has paid off better than I thought myself. I want to thank the people of Kenya for having confidence in the measures we have taken," Ruto stated.

Reduce fertiliser prices

Meanwhile, President Ruto promised to further reduce fertiliser prices to KSh 2,500 for a 50kg bag.

Ruto maintained that the only way to reduce the rising cost of living is to ensure food security by empowering farmers.

Speaking in Kericho County on Wednesday, July 19, during the commissioning of the Kericho water supply project, Ruto said his administration would reduce fertiliser prices to KSh 2,500 by next week.

"We agreed to reduce the cost of living. The cost of food cannot be reduced by subsidising consumption... that is why we introduced fertiliser subsidy.

Last year, fertiliser retailed at KSh 7,000, and we have reduced that to KSh 3,500. Starting next week, we will reduce that price to KSh 2,500 so as to reduce food prices," said Ruto.

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William Ruto

William Ruto Says Kenya Kwanza Has Stabilised Economy: "I'm Very Proud" - Tuko.co.ke

H.E President William Ruto (Commentary) on Twitter: "Kenya Kwanza administration is committed to