Kenya: President Ruto speaks on biting economic realities, says recent foreign trips meant to address domestic issues
President William Ruto has declared that his administration is making tough yet necessary decisions to stabilize Kenya’s economy, steering away from artificial measures designed for popularity. He defended his international trips, emphasizing their focus on addressing domestic challenges rather than tourism.
In a joint media interview at State House on Sunday night, the President asserted that unlike the past administration where he served as Deputy President, his government would not subsidize consumption or fuel prices, deeming them artificial solutions.
Acknowledging prior commitments, Ruto cited changing circumstances, including rising commodity prices, as necessitating adjustments, urging Kenyans to exercise patience during this economic stabilization process.
Addressing fuel prices, Ruto highlighted their dependence on international market forces, stressing the government’s limited control.
He credited recent decreases to global market dynamics, clarifying that Kenya’s fuel prices align with neighbouring countries due to shared sources.
Speaking on moves to boost foreign exchange earnings through labour agreements with nations like Saudi Arabia and Canada, he stressed the need to reduce unnecessary imports and enhance local manufacturing.
Expressing a vision for Kenya’s self-sufficiency in food production within a year, Ruto underscored efforts to prevent debt distress, maintain control over inflation and money supply, and allocate government revenue efficiently.
He reiterated his commitment to tough decisions for Kenya’s economic stability and citizens’ welfare, emphasizing the importance of addressing challenges like inflation, debt management, and sectoral self-sufficiency for the country’s future prosperity.
