President William Ruto on Tuesday undertook to ensure that public resources are used prudently.
Caution in the utilization of resources, according to the President, includes the manner in which the country, henceforth, handles borrowing.
“I can assure you that we are going to be prudent and careful in the management of our resources and in making sure that even as we borrow, we borrow carefully,” he said
He sought to reassure Kenyans that the country was now in a good financial situation compared to last year when his administration took charge of the country’s affairs.
“I want to tell you that the economy of our country is stable. We now have firm foundation for the economy of our country,” he said
“You have heard about our plans. We have a plan to ensure we are careful about how we plan for the economy of our country,” he added
He said unlike a number of countries in the continent that are staring at the risk of failure to honour their financial obligations to their creditors, Kenya would honor them citing strengthening financial position.
“28 African countries are in danger of failure to meet their debt obligations. Already eight have defaulted. But we have put strategies in place and I can assure you Kenya will go walk that path,” President William Ruto
“Because of what we have done in the last eight months, we have paid our debts,” he reiterated
He defended the recently enacted and approved Finance Act 2023.
“The only way to grow our economy is not through debts. To grow the economy in a sustainable and predictable way is to ensure we build it to a great extent using our won resources,”
“If I learnt anything from Mzee President Mwai Kibaki, it is his rallying call to pay taxes that’s why he said kulipa ushuru ni kujitegemea and Kibaki was the foremost economist and he knew what he was saying,” he added