On Thursday, President William Ruto declared that he had rescued Kenya’s economy from the gutter it was in when he assumed power in September 2022.
During a roadside rally in Kericho town, the president highlighted the continuing decline in the price of the US dollar against the shilling from an all-time high of Kes.163.98 on February 4, 2024.
“Kenya’s economy was in the gutter, but I have saved it. As you can see now, even the dollar price has gone down, and things are in order,” stated Ruto.
He also noted the drop in fuel prices in February and further reductions in the Energy and Petroleum Regulatory Authority (EPRA)’s March review. The authority has decreased the price per litre of petrol by Kes.7.21. Similarly, it has reduced prices per litre of diesel by Kes.5.09 and kerosene by Kes.4.49 despite higher landing costs.
“Today, you will be given new fuel prices and see how things are getting better,” Ruto said before the review.
The President at the same time defended his government’s decision to increase several taxes and introduce new ones, reiterating that he aims to control debt levels.
“We want to ensure that Kenya gets ahead without burden and debt,” Ruto said, adding; “We must be careful as a nation not to contract debt that has the possibility of making our country fall. That is why we are going to use local interventions and revenue to drive our development and reduce borrowing.” Ruto stated.
