Ruto: Economy is now Stable, Kenya Out of Debt Danger Zone

July 24, 2023

According to President William Ruto, his Kenya Kwanza administration has managed to stabilize the economy as well as alleviate the debt crisis.

Speaking during a thanksgiving service in Taita Taveta on Sunday, President Ruto claimed he has been diligently working to stabilize the struggling economy for the past 8 months, and he expressed satisfaction that his efforts have borne fruit.

The President reiterated the urgent necessity to address the growing debt ceiling, underscoring his government’s dedication to reducing borrowing.

“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 centre,” he said.

As an alternative to borrowing, President Ruto said his administration will rely on revenue collection to sustain its operations. He encouraged Kenyans to support the taxation proposals he has put forward.

“We will collect tax here at home. And those remitting their tax will be led by me, I will be at the forefront. We are looking for that tax so that we run our country on our own resources,” he said.

“And if it is possible for us to do it, we must do it because that is a sustainable way of taking Kenya into the future so that we strategize on our plans knowing where we will get the money.”

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