President William Ruto has assured Kenyans that the country is now “safely out of the danger of debt distress”. Speaking today Tuesday, 12th December 2023 at the 60th Jamhuri Day celebrations, He highlighted that the country’s economic indicators are looking positive, with the inflation rate at 6.8% and GDP growing at 5.4% over the last six months, making Kenya the 29th fastest growing economy in the world according to the World Bank.

Ruto emphasized the importance of investing in human capital to drive economic progress and outlined the government’s commitment to improving the education sector. He said, “We have allocated Ksh.46 billion to support the new university funding model, Ksh.9 billion for the TVET funding model, an additional Ksh.47 billion to enable TSC to hire 56,000 teachers, and Ksh.24 billion for basic education.”

Ruto also addressed the classroom deficit in Nairobi county, announcing that the government has undertaken to build 3,500 additional classrooms with the first Ksh.1 billion allocated in this year’s budget. He added, “We have made the right choices, sometimes taken very difficult and painful decisions, to steer Kenya back from the edge of a catastrophic cliff of debt distress and move our country in a new direction.”

Despite public anger over tax hikes and slashed subsidies, Ruto defended his economic reform agenda as the “only way and means of escape”. He has been on a campaign to slash public debt and “wasteful” government expenditure, and has also cut food and fuel subsidies introduced by his predecessor.

Ruto’s commitment to further Kenya’s economic prosperity is a contribution to perfecting Kenya’s national sovereignty.

In his speech, he commended Kenyans for their patriotic devotion, which he termed as pivotal to the success of his administration’s economic reform agenda. Kenya’s emergence from debt distress is a positive sign for the country’s economy and its citizens.

The government’s investment in education and infrastructure will help to drive economic growth and create opportunities for Kenyans. Ruto’s commitment to fiscal responsibility and economic reform is a step in the right direction for Kenya’s future