President Willam Ruto of Kenya has declared that the country is officially and safely out of danger of debt distress and that our economy is on stable footing.
He stated this on Tuesday when he delivered a triumphant message during the Jamhuri Day celebrations at Uhuru Gardens.
The president attributed this achievement to the sacrifices made by his administration.
Reflecting on the 60 years of progress, President Ruto emphasised the significant progress Kenya has made over the last six decades, acknowledging the undeniable strides from the nation’s humble beginnings, while paying glowing tributes to the sacrifices of Kenya’s forefathers, who fought for the freedom celebrated today.
The president called for gratitude, celebrating the legacy of those who came before and contemplating the contributions needed to accelerate future progress.
He called upon the current generation to take up the task of advancing prosperity as a contribution to perfecting Kenya’s national sovereignty.
“In our democratic and political journey, we have made tremendous sacrifices and progress from a single party to a muli-party, from violence and intolerance to orderly and peaceful elections. However, we have not made as much progress with our economy.
“Our saving as a percentage of GDP is dismal, many especially young people do not have jobs. Our generation must therefore take up the unfinished job of actualizing prosperity as our contribution to perfecting Kenya’s national sovereignty, he said.
President Ruto highlighted Kenyans’ great patriotism and unity in the past year.
“Together, difficult decisions were made to steer Kenya away from the edge of catastrophic debt distress and towards a new economic direction. The sacrifices, though painful, were deemed necessary for economic stability,” he said.
“Proudly, these sacrifices have paid off. Without fear of any contradictions, I can now confirm that Kenya is safely out of the danger of debt distress and that our economy is on stable footage.
He revealed that inflation dropped to 6.8 per cent from a high of 9.2 a year ago. Additionally, Kenya’s GDP has grown at a rate of 5.4 per cent, positioning the country as the 29th fastest-growing economy globally, according to the World Bank.
Jamhuri Day holds a special place in Kenya’s calendar, observed on December 12 each year. The Swahili word ‘Jamhuri’ translates to republic.
This national holiday marks the official date when Kenya gained independence on December 12, 1963, six months after achieving internal self-rule on June 1, 1963, from the United Kingdom.