Economic Stabilization Announcement by President Ruto
“President Ruto Declares Economic Stabilization; Promises Development Projects Ahead”
President William Ruto has provided reassurance to Kenyans, stating that the nation’s economic outlook is promising. He announced that the economy has been stabilized, allowing citizens to start benefiting from improvements.
During an event in Kerio Valley, Elgeyo Marakwet, Ruto emphasized the government’s successful efforts to stabilize the economy in 2024 and highlighted that significant projects will commence in the New Year.
He remarked that over the past two years, he has worked diligently to ensure economic stability, which is now in a favorable position.
“We can now confidently say that we have managed to stabilize the economy, as I had previously mentioned, through necessary yet challenging decisions,” he stated.
“With the economy stabilized, we will now advance road construction projects. “
Ruto further noted that inflation has decreased from 9. 6% to 2. 7%, and the exchange rate has improved from approximately 160 to around 120.
“The interest rate issues are now declining, and foreign exchange reserves have increased by nearly 3 billion dollars,” he added.
